As bidders emerge for First Republic Bank ahead of a potential government seizure, the question on everyone's mind is whether JPMorgan Chase will be granted an exception to the rule forbidding banks with more than 10% of US deposits from buying competitors. The Office of the Comptroller of the Currency is said to be standing by to vet a deal and provide a verdict if the Federal Deposit Insurance Corp (FDIC) deems JPMorgan's offer attractive and seeks approval. JPMorgan, the biggest bank in the US, is leading the race with its "fortress balance sheet". The FDIC is expected to announce their decision following the deadline for offers, which recently passed. Should the bank be allowed to buy First Republic Bank, it would be a rare exception to industry rules. Representatives from the OCC and FDIC declined to comment on the matter.