JP Morgan heading for highest ever share of US deposits
Acquisition of First Republic helps bolster bank’s status as nation’s biggest deposit-holder
With the purchase of First Republic Bank, JP Morgan is on course for its largest ever share of total US deposits in at least a decade, a Risk Quantum analysis of Federal Reserve data shows.
Prior to the takeover earlier this month, JP Morgan had $1.95 trillion in deposits at its US branches and offices in Q1 2023, 11.2% of the $17.45 trillion national total.
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