Stayed calm - both the market and the public.
The fall of First Republic Bank did not trigger the panic button as the previous bank failures in March. That is a good thing.
People now understand how the system works when a bank fails. A rapid and orderly resolution surfaced after another weekend.
With the FRB deal, Chase expects:
📌 An IRR > 20%.
📌 > $500 million net income.
📌 A boost of wealth presence on two coasts.
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