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A man walks near a First Republic Bank branch in New York City.

REUTERS/Eduardo Munoz

First Republic Bank seized & sold

Just hours before US markets opened on Monday, regulators seized First Republic Bank and sold all of its deposits and most of its assets to JPMorgan Chase. The move aims to stem fears of further turmoil in the US financial sector following the collapses of two other midsize banks —Silicon Valley Bank and Signature Bank — in early March.

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Silicon Valley Bank logo seen through broken glass.

REUTERS/Dado Ruvic

Yellen brings bazooka to stop SVB contagion

The US government on Sunday night announced measures to stop the collapse of Silicon Valley Bank from leaving 97% of its depositors holding the bag — and to avert another financial crisis (without spending taxpayer money).

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