US Considers Expanding Emergency Lending and Support for Banks, Including First Republic (NYSE:FRC)

US regulators are considering expanding the emergency lending facility for banks, which could potentially give First Republic Bank more time to strengthen its balance sheet. This is one of several options being evaluated, and officials have not yet decided on what support they may give to the bank. Fitch Ratings recently downgraded First Republic's long-term issuer default rating, and the bank is now seeking options to sell parts of its business to raise cash and cut costs.