미국 은행들이 First Republic Bank의 운명을 결정하기 위해 미국 정부의 결정을 기다리고 있다

미국은행들이  First Republic Bank의 운명을 결정하기 위한 미국정부의 결정을 기다리고 있다.
미국 은행들은 일요일 통과된 샌프란시스코 대출 기관에 대한 입찰 제출 마감일 이후 First Republic Bank(FRC)의 운명에 대한 미국 정부의 소식을 기다리고 있습니다.

연방예금보험공사(Federal Deposit Insurance Corporation)는 JP모건체이스(JPM), 뱅크오브아메리카(BAC), PNC 파이낸셜서비스그룹(PNC) 등 여러 대형 은행을 입찰에 초대했다. 시티즌스파이낸셜그룹(CFG)과 US뱅코프(USB)도 초청된 것으로 알려졌다.
이들 중 한 사람에 따르면 Bank of America는 입찰을 거부하기로 결정했다. Bloomberg 보고서에 따르면 US Bancorp도 제안을 하지 않기로 결정했다.
이와 같은 은행들 중 일부는 3월에 300억 달러의 무보증 예금으로 First Republic의 구제를 도왔다. 그러나 그들은 지난주 First Republic이 어차피 압류될 것이라고 두려워하면서 자신들만의 두 번째 구제를 꺼리고 있었다.

FDIC는 일요일 정오까지 입찰 마감일을 정했고, 입찰 과정에 관여한 사람들은 이를 First Republic Bank의 정부 압류의 전주곡으로 해석했다. 금요일에는 여러 보도에서 FDIC가 First Republic을 수신권자 관리하에 두게 될 가능성이 높다고 제시했다.

FDIC는 First Republic의 모든 예금과 어쩌면 문제가 있는 자산 일부까지 인수할 의사가 있는 대형 은행 중에서 구매자를 찾을 수도 있다. 때로는 FDIC가 예를 들어 대출 포트폴리오에 대한 장래 손실을 나누어 주기로 하면서 이런 거래를 유도할 수도 있다.

First-Republic-Bank

민주당 하원의 원로 칸나(Ro Khanna)는 CBS의 "Face the Nation"에서 FDIC가 First Republic과 관련하여 "최저 비용 대안"을 취해야 한다고 말했다. 이는 규제 기관이 예금 보험 기금(DIF)에 가장 적은 비용을 발생시킬 입찰을 받아들여야 한다는 그들의 의무를 가리키는 것이다. DIF는 계좌당 25만 달러 한도까지 모든 예금을 보증하기 위해 사용하는 기금이다.

The bidders

 JPMorgan이 승리한다면, 미국 정부로부터 미국 예금의 10%를 초과하는 인수를 금지하는 규칙에 대한 예외를 받아야 할 것이다. Bloomberg는 보도했다. JPMorgan은 이미 그 한도를 넘은 국가 최대 은행이다. First Republic을 인수하려는 시도는 CEO Jamie Dimon을 15년 만에 두 번째로 국가 은행 위기의 중심에 놓였다. 2008년에는 JPMorgan이 그 해 3월 뉴욕 투자은행 베어스턴스를 인수하면서 연방정부로부터 290억 달러의 보증을 받았고, 2008년 9월에는 시애틀의 워싱턴 뮤추얼을 인수했다. 워싱턴 뮤추얼의 경우, JPMorgan은 규제당국이 시애틀 저축은행을 압류한 후 그 사업을 인수했다. 이것은 여전히 국가 최대의 은행 부도이다. 이 두 거래는 JPMorgan을 국가 최대의 연안방 은행으로 만들었고, 월스트리트에서 더 강력한 입지를 제공했다. 그러나 이것은 수년간 법적·규제적 골칫거리를 안겨주었다. Dimon은 그 이유로 다시 할 수 있다면 베어스턴스를 인수하지 않았을 것이라고 말했다. 피츠버그에 본사를 둔 PNC도 2008년 금융위기 동안 자신을 더 큰 선수로 만들어준 인수를 했다. 규제당국은 부실 모기지에 취약해진 클리블랜드 경쟁사인 National City에 대한 입찰을 하도록 격려했다. 2008년 10월 발표된 50억 달러 이상의 거래는 그것을 국내 최대의 대출자 중 하나로 만들었다. PNC는 2008년 이후 몇몇 큰 거래를 했다. 2012년에는 캐나다 로열 은행의 미국 소매 은행 자회사를 34억 7천만 달러에 인수했고, 2021년에는 스페인의 BBVA의 미국 부문을 116억 달러에 인수했다.

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아래 내용은 위의 글의 원문내용입니다(yahoo finance)

 

America Banks wait on US to decide fate of First Republic Bank
Banks are awaiting word from the US government about the fate of First Republic Bank(FRC) after a Sunday deadline to submit bids for the San Francisco lender passed.
The Federal Deposit Insurance Corporation invited several big banks to make bids, including JPMorgan Chase (JPM), Bank of America (BAC) and PNC Financial Services Group (PNC), according to people familiar with the matter. Citizens Financial Group (CFG) and US Bancorp (USB) were also reportedly invited.
Bank of America decided against a bid, according to one of these people. US Bancorp also decided not to make an offer, according to a Bloomberg report.
Some of these same banks came to First Republic's aid in March with $30 billion in uninsured deposits. They were reluctant last week to provide a second rescue on their own, fearing First Republic Bank would be seized anyway.
The FDIC gave banks a noon deadline Sunday, and people familiar with the bidding process interpreted it as the prelude to a government seizure of First Republic Bank. Multiple reports Friday suggested that the FDIC would likely place First Republic into receivership.
The FDIC may be able to find a buyer among the big banks that is willing to take all of First Republic's deposits and perhaps some of its troubled assets, too. Sometimes the FDIC can sweeten such deals by agreeing to share future losses on loan portfolios, for example.
Democratic Congressman Ro Khanna said on CBS's "Face the Nation" that the FDIC should take the "lowest-cost alternative" to dealing with First Republic. That is a reference to the regulator's mandate to accept the bid that will result in the least cost to the FDIC's Deposit Insurance Fund, which it uses to backstop all deposits up a limit of $250,000 per account.

The bidder

If JPMorgan were to win, it would need the US government to provide an exception to a rule preventing any bank from making an acquisition providing it with more than 10% of all US deposits, Bloomberg reported. JPMorgan, the nation's largest bank, is already above that cap.
Its attempt to purchase First Republic places CEO Jamie Dimon at the center of a national banking crisis for the second time in 15 years.
In 2008, he acted twice to help stabilize the financial system when JPMorgan purchased New York investment bank Bear Stearns in March of that year, getting a $29 billion backstop from the federal government, and then Seattle’s Washington Mutual in September of 2008. In the case of Washington Mutual, JPMorgan purchased its operations after regulators seized the Seattle thrift. It still is the nation’s largest-ever bank failure.
The two deals turned JPMorgan into the nation’s biggest coast-to-coast bank and provided it with an even more powerful hand on Wall Street. They also saddled it with years of legal and regulatory headaches. Dimon has said if he could do it over again he would not have purchased Bear Stearns for those reasons.
PNC, based in Pittsburgh, also went for an acquisition during the 2008 financial crisis that made it an even bigger player in the industry.
Regulators encouraged it to make a bid for Cleveland rival National City, which had been weakened by its exposure to poor- performing mortgages. The deal announced in October 2008 for more than $5 billion made it one of the largest lenders in the country.

PNC, which was sixth-largest bank as of Dec. 31, has made some sizable deals since 2008. In 2012 it purchased the U.S. retail banking subsidiary of Royal Bank of Canada for $3.47 billion and in 2021 it picked up the U.S. arm of Spain’s BBVA for $11.6 billion.

The BBVA deal gave it roughly 60 branches in California, First Republic's home state, as well as locations in Texas. It was able to claim a presence in 29 of 30 of the top metropolitan statistical areas in the country.

First Republic Bank's troubles

First Republic became the subject of a government bidding war after a fight for its survival that began in March when panic about the stability of regional lenders cascaded across the country. It tried to weather the turmoil by borrowing from the Federal Reserve and the Federal Home Loan Bank while also taking in $30 billion in uninsured deposits from 11 of the country's largest banks. JPMorgan provided $5 billion of the $30 billion.

But First Republic's situation turned more serious Monday after it disclosed a loss of more than $100 billion in deposits. The drop was greater than expected and raised new concerns about the company's chances for survival. By Friday, First Republic's stock had dropped to $3.50, down 97% for the year. The bank's market value, once $40 billion, was just $640 million.