First Republic’s crisis is not an isolated incident: JPMorgan exec By Cointelegraph


An executive at J.P. Morgan Asset Management is unsure how United States regional banks are “going to operate” when the Federal Deposit Insurance Corporation (FDIC) and Federal Home Loan Banks (FHLB) emergency lending programs expire, warning that the possible collapse of First Republic Bank (NYSE:) may cause a domino effect.

In an April 27 Bloomberg television interview, Bob Michele, the chief investment officer of J.P. Morgan Asset Management, said that the impact of First Republic’s liquidity issues caused by significant deposit outflows isn’t “just limited” to the bank itself but could potentially affect the entire banking industry.