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ABA: The American Bankers Association
Statement
  • For Immediate Release
  • May 1, 2023

ABA Statement on First Republic

“While the failure of any bank is regrettable, today's decision by federal and state regulators to close First Republic Bank and sell its deposits and assets through a competitive auction will bolster confidence in the nation’s banking system. This action highlights the depth of our industry and the orderly process in place to ensure that bank customers and the overall system are protected.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $23.9 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.

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