Federal regulators are preparing to seize First Republic Bank as soon as this weekend, while major banks including JPMorgan Chase and PNC are vying to buy the lender once it enters receivership, according to multiple reports.If the San Francisco-based lender falls into receivership, it would be the third US bank to collapse since March, in addition to the Swiss government-brokered buyout of European giant Credit Suisse by UBS.After failing to find a private buyer for First Republic this week, the US Federal Deposit Insurance Corporation has decided that the bank's position has deteriorated to the point that time has run out for a private-sector bailout, sources told Reuters.
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