First Republic Bank's Uncertain Future Amidst Plummeting Shares and Rescue Plans.

1 min read
Source: Fortune
First Republic Bank's Uncertain Future Amidst Plummeting Shares and Rescue Plans.
Photo: Fortune
TL;DR Summary

First Republic Bank's shares have fallen more than 47%, hitting an all-time low, and trading was halted numerous times throughout the day. The bank's customers have withdrawn around $70 billion in deposits since Silicon Valley Bank's collapse, or nearly 40% of its total holdings. Despite sweeping government measures to reassure bank depositors that their money is safe, small and regional banks are still uneasy, with First Republic at the highest risk of another lethal run. Large banks have had a huge influx of customer deposits in the past week as people grew nervous about small banks' ability to safeguard their money.

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