Highlights of J.P. Morgan's acquisition of First Republic Ba...
$第一共和银行(FRC.US$ Highlights of J.P. Morgan's acquisition of First Republic Bank include:
1) Acquisition of most of First Republic Bank's assets, including approximately $173 billion in loans and approximately $30 billion in securities;
2) Underwrite approximately $92 billion in deposits, including $30 billion in large bank deposits, which will be repaid or written off after the transaction is completed (of which J.P. Morgan will reimburse $25 billion in large Bank of America deposits and write off $5 billion in deposits during the merger), and $28 billion in Federal Home Loan Bank (FHLB) loans.
3) The Federal Deposit Insurance Corporation (FDIC) will provide a loss sharing agreement covering the purchased single-family residential mortgage (80% loss, seven years guarantee) and commercial loans (80% loss, five-year guarantee), and the FDIC will provide it with 50 billion US dollars of five-year fixed interest financing.
4) J.P. Morgan does not reimburse First Republic Bank's corporate bonds or preferred shares.
5) J.P. Morgan Chase will pay $10.6 billion to the Federal Deposit Insurance Corporation (FDIC).
1) Acquisition of most of First Republic Bank's assets, including approximately $173 billion in loans and approximately $30 billion in securities;
2) Underwrite approximately $92 billion in deposits, including $30 billion in large bank deposits, which will be repaid or written off after the transaction is completed (of which J.P. Morgan will reimburse $25 billion in large Bank of America deposits and write off $5 billion in deposits during the merger), and $28 billion in Federal Home Loan Bank (FHLB) loans.
3) The Federal Deposit Insurance Corporation (FDIC) will provide a loss sharing agreement covering the purchased single-family residential mortgage (80% loss, seven years guarantee) and commercial loans (80% loss, five-year guarantee), and the FDIC will provide it with 50 billion US dollars of five-year fixed interest financing.
4) J.P. Morgan does not reimburse First Republic Bank's corporate bonds or preferred shares.
5) J.P. Morgan Chase will pay $10.6 billion to the Federal Deposit Insurance Corporation (FDIC).
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102597866 : JPM got take over securities meh