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The legacy system is bracing for another potential domino to fall in the ongoing stress on the US banking system as several regional bank stocks suffer big losses early in the trading week. Early Tuesday morning, PacWest Bancorp, which provides business banking and treasury management to small and midsized businesses, saw its share price collapse 39%. Meanwhile, JPMorgan acquired all of First Republic’s deposits and a “substantial majority of assets.”
The legacy system is bracing for another potential domino to fall in the ongoing stress on the US banking system as several regional bank stocks suffer big losses early in the trading week. Early Tuesday morning, PacWest Bancorp, which provides business banking and treasury management to small and midsized businesses, saw its share price collapse 39%. Meanwhile, JPMorgan acquired all of First Republic’s deposits and a “substantial majority of assets.” read more read less

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