FDIC Acknowledges Oversight Shortcomings Towards First Republic Bank

In a report issued by the FDIC on September 8, the agency acknowledged that measures could have been implemented by bank regulators to mitigate deposit runs at First Republic Bank. The report emphasizes that the FDIC could have further scrutinized interest rate and liquidity risk exposures, that could have reduced the bank’s vulnerability to the contagion effects witnessed in March 2023.

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