First Republic Bank may receive additional support from US authorities.

1 min read
Source: Fox Business
First Republic Bank may receive additional support from US authorities.
Photo: Fox Business
TL;DR Summary

Federal banking regulators are considering expanding the Federal Reserve's emergency lending program, known as the Bank Term Funding Program (BTFP), to help struggling First Republic Bank regain stability. The BTFP was created in March to give banks more access to liquidity and safeguard depositors' funds. Any increase in funding or potential changes to the BTFP would apply to all banks, but authorities could tailor any changes to help First Republic Bank. The bank has already received a liquidity infusion of $70 billion, including $30 billion in deposits from 11 of the nation's largest banks plus loans from the Federal Reserve's lending facilities.

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