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.



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