NEW YORK, April 28 (Reuters) - The U.S. Federal Deposit
Insurance Corporation (FDIC) is preparing to place First
Republic under receivership imminently, a person familiar with
the matter said on Friday.
The U.S. banking regulator has decided that the troubled
regional lender's position has deteriorated and there is no more
time to pursue a rescue through the private sector, the source
said, requesting anonymity because the matter is confidential.
First Republic and FDIC representatives did not immediately
respond to requests for comment.
(Reporting by Greg Roumeliotis in New York)
Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))
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