US Considers Further Bank Support Amid First Republic's Troubles

US authorities are considering expanding an emergency lending facility to offer more support to banks, which could give First Republic Bank more time to strengthen its balance sheet. While any changes to the Federal Reserve's liquidity offerings would apply to all eligible users, the adjustments could be designed to ensure that First Republic benefits from the changes. U.S. banks have sought record amounts of emergency liquidity from the Federal Reserve in the past month after the failures of Silicon Valley Bank and Signature Bank.