- by foxnews
- 15 Nov 2024
US banks launch $30bn rescue of First Republic to stem spiraling crisis
US banks launch $30bn rescue of First Republic to stem spiraling crisis
- by theguardian
- 17 Mar 2023
- in politics
1.4 k views
Bank of America, Goldman Sachs, JP Morgan and others will deposit $30bn in First Republic, which has seen customers yank their money following the collapse of Silicon Valley Bank (SVB) and fears that First Republic could be next.
Banks and regulators are hoping that the action will act as a firewall by protecting First Republic and stopping the crisis spreading to other smaller banks.
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