First Republic Bank (NYSE:FRC) Surges on Monday, Leading Regional Banks Higher.
TL;DR Summary
First Republic Bank's stock rose 12% in Monday trading, rebounding from a 90% plunge since March due to concerns over deposit withdrawals and declining asset values. The KBW Nasdaq Bank Index and Financial Select Sector SPDR ETF also rose on Monday. US regulators are considering expanding an emergency lending facility for banks, potentially giving First Republic Bank more time to shore up its balance sheet. Deposit outflows were not as bad as feared, according to Federal Reserve data released on Friday.
Topics:business#banking-stocks#deposit-withdrawals#emergency-lending-facility#federal-reserve-data#finance#first-republic-bank
- Why did First Republic Bank stock jump up today? (NYSE:FRC) Seeking Alpha
- First Republic rebounds by more than 10% on Monday to lead regional banks higher CNBC
- US Mulls More Support for Banks Bloomberg Television
- How First Republic's courtship of the wealthy led to meltdown Reuters
- Why First Republic Bank Stock Is Popping Off - First Republic Bank (NYSE:FRC) Benzinga
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
0 min
vs 1 min read
Condensed
47%
154 → 81 words
Want the full story? Read the original article
Read on Seeking Alpha