First Republic considers downsizing and strategic alternatives with JPMorgan's advice.

First Republic Bank is exploring options to sell parts of its business, including its loan book, to raise cash and cut costs. The bank is also working with JPMorgan to find new sources of capital and is considering downsizing if its attempts to raise new capital fail. The bank was recently downgraded by S&P and Moody's due to deposit outflows and higher-cost funding as the value of its assets decline.