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Cramer Thinks JPMorgan May Be On The Moon But First Republic Shareholders 'Ain't Got Nothing' To Celebrate

Benzinga

First Republic Bank' s (NYSE: FRC ) longtime supporter Jim Cramer chimed in on the bank's collapse and the ramification for different stakeholders. The terms of the deal showed that the big bank will recognize a post-tax gain of about $2.6 NYSE: JPM ), Cramer said, "Great deal for JP Morgan."

Banking 98
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JPMorgan Chase Confident In First Republic Takeover, Raises 2023 NII Guidance by $3B

Benzinga

The new guidance is higher than the company's earlier expectation of $81 billion, stated during the Q1 2023 call. The upgraded guidance reflects JPM's optimism about the takeover of First Republic Bank (OTCPK: FRCB). The acquisition included $173 billion in loans and $30. Full story available on Benzinga.com

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UBS Acquisition of Credit Suisse: Bye Bye AT1 Investors, Anxiety Builds Among Banks' Subordinated Bondholders

Benzinga

UBS Group AG 's (NYSE: UBS ) takeover of Credit Suisse Group AG (NYSE: CBS ) has done nothing to alleviate market concerns about the banking sector, and it continues to throw a shadow over the rights of credit institution shareholders and bondholders. shares they own, or CHF 0.76 per share, for a total consideration of CHF 3 billion.

Banking 98
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Davis Polk Discusses RECOUP Act’s Clawbacks of Failed-Bank Executives’ Compensation

Reynolds Holding

In a recent opinion piece in the Washington Post , former FDIC Chair Sheila Bair and leading British bank historian Charles Goodhart argued in favor of the executive compensation clawback provision in the proposed RECOUP Act , which we analyzed here. 1 Some or all of these increased costs could be passed on to bank customers.

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Silicon Valley Bank’s Failure: Lessons for Private Business Owners and Directors

Chris Mercer

This post was originally written for Mercer Capital’s Family Business Director Blog and offered advice to family business directors based on my observations following the failure of Silicon Valley Bank on March 10, 2023. This failure was followed by Signature Bank on March 12, 2023, and First Republic Bank on May 1, 2023.

Banking 98
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Breach of Trust: Decoding the Banking Crisis

Musings on Markets

In March 2023, the fall of Silicon Valley Bank shocked investors not only because it was unforeseen, but also because of the speed with which it unfolded. That failure has had a domino effect, with Signature Bank falling soon after, followed by Credit Suisse in April 2023 and by First Republic last week.

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Pay for Prudence

Reynolds Holding

We contribute to this debate by documenting the extent to which bankers’ pay contains prudence-related targets, the association between those targets and other incentives, and how the targets affect future bank risk-taking. PfP rewards managers for outcomes that lower credit risk, which is a central objective of bank supervision.

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