The Washington PostThe Washington Post

JPMorgan's acquisition of First Republic revives too-big-to-fail talk

By David J. Lynch

01 May 2023 · 7 min read

Editor's Note

JPMorgan and the other banking giants are getting even bigger, which is making some people very unhappy. The Post explains why this is happening and asks: Is it a good or a bad thing for the industry?

JPMorgan Chase's purchase of First Republic Bank is intended to end a budding financial crisis but it risks doing so by reviving a political battle over the power of the nation's largest financial institutions.

Already the largest U.S. bank with more than $3.2 trillion in assets, JPMorgan added an additional $200 billion in loans and securities by acquiring First Republic in a pre-dawn transaction with the Federal Deposit Insurance Corp.

Sign in to informed

  • Curated articles from premium publishers, ad-free
  • Concise Daily Briefs with quick-read summaries
  • Read, listen, save for later, or enjoy offline
  • Enjoy personalized content
Or

LoginForm.agreeToTerms