JP Morgan boss plays down risk of banking crisis worsening after First Republic

Jamie Dimon's remarks follow $10.6bn takeover brokered by US regulators to buy most of failed First Republic

Jamie Dimon, the boss of JP Morgan, has played down the risk of a spiralling banking crisis after America's biggest bank stepped in to buy most of collapsed lender First Republic in a $10.6bn (8.5bn) takeover hurriedly brokered by US regulators.

After weekend talks to secure a sale of First Republic, the third US lender to fail this year, the Federal Deposit Insurance Corporation (FDIC) confirmed JP Morgan as the buyer.