The bankruptcy of a huge bank in Bom Dia Brasil has been confirmed in Globo
Hey Good morning, BrazilTV news EarthHe was responsible for confirming the bankruptcy of a giant bank. It is known to be one of the largest financial institutions in the country.
Because of the bankruptcy, it was the responsibility of the largest operating bank in the country to assume the bank's loans, securities, and deposits. The news was revealed by Mariana Gloss, in the version broadcast on May 1, 2023, Ana Paula Araújo's replacement said:
“In the United States, financial system regulators took over the activities of First Republic Bank and announced an agreement to be purchased by another institution.” Then Esmar Madeira, communicating directly from New York, was responsible for exposing what the United States government had done.
“The California Department of Financial Protection announced this morning that it has taken over the activities of First Republic,” he said. He then explained that JP Morgan would be responsible for buying out and taking over the bank's problems.
Notably, First Republic was intervened by financial regulators following efforts to rescue the bank. Thus, the intervention is the largest bank failure of 2023 and the second largest in American history, surpassing even the Silicon Valley bank failure.
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How did SVB go bankrupt?
On March 13, 2023, the US bank Silicon Valley Bank (SVB), known for investing in startups, was declared bankrupt after it was no longer able to repay debts, amid rising US interest rates. This was the largest crisis in the US financial system since 2008.
At the time, this was considered the second largest bankruptcy in the United States. At the time, bankruptcy caused a sensation, after all, it created people's fear that their accounts would not be able to function. This has prompted thousands of people to rush to withdraw their savings.
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