The source added that it is expected to receive offers from four and six institutions.
The First Republic has been under severe pressure since the collapse of two similar banks in early March.
But the bank failed to reach a satisfactory rescue package, and its share, which was already in poor condition, fell after it confirmed on Monday evening that many of its customers withdrew in the first quarter their deposits estimated at more than $100 billion.
This led the authorities to intervene in the file.
In this context, the agency in charge of guaranteeing bank deposits and the Ministry of Economy reached out in the middle of the week to several banks that might be interested in acquiring the First Republic, according to what the source told AFP.
The list of banks that may be interested in the acquisition includes JPMorgan Chase and Bank of America, according to media reports.
The source explained that the authorities allowed a number of institutions to view more financial information on the “First Republic” on Friday.
The Deposit Insurance Agency did not want to comment on or confirm this information, and the US Federal Reserve and the Ministry of Economy did not respond to requests for comment from Agence France-Presse.
According to many US media outlets, the Deposit Insurance Agency will, in the first stage, manage the bank, whose assets amounted to $233 billion at the end of March.
Then the FDIC will quickly sell part or all of the bank’s assets to another institution.
If the deal goes this way, it could be announced as early as Monday.
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