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UPDATE 1-PNC, JPM putting in final bids for First Republic in FDIC auction -sources
PNC Financial Services Group and JPMorgan Chase & Co were among banks set to submit final bids for First Republic Bank by midday Sunday in an auction being run by U.S. regulators, sources familiar with the matter. The Federal Deposit Insurance Corp is expected to announce a deal on Sunday night before Asian markets open, with the regulator likely to say at the same time that it had seized the lender, three sources previously told Reuters. FDIC was not immediately available for comment.