WASHINGTON, May 1 (Reuters) - The International Monetary
Fund (IMF) appreciates quick action by U.S. regulators to seize
First Republic Bank and find a private buyer, an IMF
spokesperson said on Monday.
It said the resilience of the global financial system
continued to be tested and strains were evident across a number
of institutions and markets.
"Recent events continue to remind us of the challenges posed
by the interaction between tighter monetary and financial
conditions and the buildup in vulnerabilities in the global
financial system. We appreciate the quick and orderly resolution
of this troubled bank by the U.S. regulators,” the spokesperson
said.
(Reporting by Andrea Shalal and David Lawder; Editing by Mark
Porter)
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