WASHINGTON (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)