Once Silicon Valley Bank and Signature Bank went down, we all knew that it was just a matter of time before more large banks started to implode.  Now First Republic has failed, and over the weekend U.S. regulators were working very hard to arrange a sale…

U.S. regulators have been trying to clinch a sale of First Republic over the weekend, with roughly half a dozen banks bidding, sources said on Saturday, in what is likely to be the third major U.S. bank to fail in two months. Guggenheim Securities is advising the FDIC, two sources familiar with the matter said on Saturday.

As a I write this article, that still hasn't happened yet.

But it could happen at any moment.

When a sale is finally announced, the FDIC is also expected to tell us that it has seized First Republic…

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.