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First Republic and JP Morgan (Patreon)

Published:
2023-05-09 19:27:35
Imported:
2023-05

Content


My private banker from First Republic Bank just called me. 

  • He said that Jamie Dimon, the CEO of JPMorgan Chase, just presented to the entire bank. 
  • Dimon said that they are looking at the best of First Republic to integrate into Chase. This includes the great service that First Republic is known for. 
  • They plan to integrate First Republic's systems into Chase's systems. 
  • Clients of First Republic will soon have access to all of the products and services of both banks.
  • CD rates will also be affected by the acquisition. The yield on a 5-month CD is currently at 4.95%. 
  • The acquisition by JPMorgan Chase will backstop all deposits, so FDIC insurance is not going to be an issue. 
  • He said the total value of backing from JPM is $3.4 trillion.
  • All else will remain the same, incl my private banker. 

Comments

Anonymous

“Dimon said that they are looking at the best of First Republic to integrate into Chase.” Nice deal for JPM, they get the assets they want, taxpayers cover the rest?

Anonymous

Thanks for sharing the helpful insights. I spoke with Fidelity Investments today and found out retail has the option to select up to 25 banks for the FDIC cash positions to be deposited that are administered by Fidelity. I switched from regional banks to JPMorgan as my primary and BNY Mellon as my secondary. I doubt most Fidelity customers are aware of this option. In addition, you can assign an insufficient funds backstop on such cash accounts with the SPIC insured Fidelity MMFs. This allows you to keep a minimum cash position with the largest depositors backed by MMFs earning 4.65% APY presently.

Anonymous

One bank to rule them all

Anonymous

Long JPM

Anonymous

There’s some good news. Did he say CD rates will be “affected” up or down? I have a couple of CD’s at JPM maturing later this month.

Anonymous

Really appreciate the inside info

Whiteness

Are you gonna stick with them now that they’re part of the Great Insidious Beast?

Anonymous

That's crazy!! JPM is going to be a behemoth....as if it wasn't already...how many more fish 'r Krill can this whale eat?

Anonymous

So the largest banks own FED who first created bubble by printing 5 trillions and then smashed everything into pieces so that the largest banks can take over the whole traditional banking?

Anonymous

Proud to wear my tinfoil hat. I think James is spot on with the banks consolidation and consumption of power

Anonymous

Any plays here?…NFA of course. Honestly just curious really 🤷‍♂️

InvestAnswers
>>108226254

go long jPM and short the rest ;o) - but I dont touch bank stocks. So much easier to play BTC proxies and other disruption

Anonymous

James, what do you think of the speculation that Chase is a Fed/Government owned bank?