Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City. Michael M. Santiago | Getty ImagesJPMorgan Chase’s takeover of First Republic likely ends the panic phase of the banking crisis, with the fallout left to come in a pivotal week for markets and the economy.Following an unsuccessful effort to keep First Republic open, the largest U.S. bank by deposits reached a deal to take over the 14th-largest financial institution. In doing so, JPMorgan helped avert a destabilizing broad collapse in the sector, but by no means solved all the banking problems likely to come.”This is not the end,” said Gary Cohn, former chief operating officer at Goldman Sachs, in an interview Monday on CNBC’s “Squawk Box.” “I don’t think we’re going to get three and done. Crises don’t sort of end this easily. There will be other issues out there in the banking world.”With financial services covering such a wide swath of activities in the $26.5 trillion U.S. economy, the failures of Silicon Valley Bank, Signature Bank and now First Republic Bank will reverberate.Critical week aheadThe takeover kicks off an important week on Wall Street, with a key decision on interest rates looming along with earnings from Apple and a jobs report that is expected to sh …
