First Republic Bank Considers Sale and Receives Support from Big Banks and Financial Institutions.

TL;DR Summary
First Republic Bank, one of the nation's larger institutions, is exploring options to shore up its finances and calm jittery investors, including a possible sale to a larger rival or a financial rescue that could include a quick injection of new cash. The bank's shares have plunged 60% since last Thursday, and its credit rating has been downgraded to junk levels. Deposit withdrawals have also increased, with roughly two-thirds of First Republic's deposits above the federally insured limit of $250,000.
Topics:top-news#credit-rating-downgrade#depositors#finance#financial-instability#first-republic-bank#potential-sale
- First Republic Bank Explores Potential Sale The New York Times
- Bank shares rebound off lows on report big banks coming to the aid of First Republic CNBC
- U.S. banking regulator engaging in 'heightened monitoring' of national banks - spokesperson Reuters
- Group of financial institutions in talks to deposit about $20 billion in First Republic, sources say CNBC
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