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

Another day, another bank: First Republic gets US$30b deposits in rescue
(Image: Bloomberg)
Bloomberg
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...

More Bloomberg

Coal firm wiping 800-year-old German village off the map
Bloomberg

Coal firm wiping 800-year-old German village off the map

Billionaire's company wants the lignite before it finally abandons the energy source.

Bloomberg 13 Jul 2024
Singapore becomes hot spot for M&A bankers hunting Asia deals
Finance

Singapore becomes hot spot for M&A bankers hunting Asia deals

The island is a magnet for parties interested in mergers and acquisitions.

Bloomberg 28 Jun 2024
Wall St backers see breakthrough moment for carbon offsets
Climate change

Wall St backers see breakthrough moment for carbon offsets

Promoters' big wins include Biden administration's blessing of the credits.

Bloomberg 22 Jun 2024
Nvidia’s rise to US$3 trillion fuels ‘Jensanity’ in the tech world
Technology

Nvidia’s rise to US$3 trillion fuels ‘Jensanity’ in the tech world

At Computex, cheering, chanting fans followed the billionaire everywhere.

Bloomberg 15 Jun 2024