A Third Bank Implodes. Now What?

On Monday morning, the federal government took over a third failing bank — this time, First Republic.

Jeanna Smialek, an economy correspondent for The Times, discusses whether we are at the end of the banking crisis, or the start of a new phase of financial pain.

Guest: Jeanna Smialek, an economy correspondent for The New York Times.

Background reading:

• First Republic bank was seized by regulators and sold to JPMorgan Chase.
• Key takeaways from regulatory review of bank failures.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.