Another day, another bank: First Republic gets US$30b deposits in rescue

(Image: Bloomberg)

Fri, 17 Mar 2023

By Gillian Tan, Hannah Levitt, Sridhar Natarajan and Saleha MohsinThe nation’s biggest banks are close to agreeing upon a plan to deposit as much as US$30 billion (NZ$48.5b) with First Republic Bank in an effort supported by the US government to stabilize the battered California lender, according to people with knowledge of the matter.Banks including JPMorgan Chase & Co, Citigroup Inc, Bank of America Corp, Wells Fargo & Co, Morgan Stanley, U.S. Bancorp, Truist Financial Corp and PNC Financial Services Group Inc are part of the di...

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