WATCH: White House holds briefing as First Republic Bank seized by regulators

White House Press Secretary Karine Jean-Pierre held a press briefing on Monday.

Watch the briefing in the player above.

The briefing comes as regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of the U.S. banking system.