Trading in shares of First Republic Bank was halted multiple times on Monday as uneasiness still surrounds the financial institution following its $30 billion rescue package.
The Silicon Valley Bank logo is seen at an open branch in Pasadena, Calif., on March 13, 2023. The bidding process for the successor of Silicon Valley Bank is being extended by the Federal Deposit Insurance Corp. to give more time to work out a potential deal. The FDIC said Monday, March 20, 2023 that there’s been “substantial interest” from multiple parties for Silicon Valley Bridge Bank.
The Silicon Valley Bank logo is seen at an open branch in Pasadena, Calif., on March 13, 2023. The bidding process for the successor of Silicon Valley Bank is being extended by the Federal Deposit Insurance Corp. to give more time to work out a potential deal. The FDIC said Monday, March 20, 2023 that there’s been “substantial interest” from multiple parties for Silicon Valley Bridge Bank.
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S&P cuts First Republic deeper into junk, says $30 billion infusion may not solve problemsFirst Republic Bank saw its credit ratings downgraded deeper into junk status by S&P Global, which said the lender's recent $30 billion deposit infusion from 11 big banks may not solve its liquidity problems.
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Silicon Valley Bank’s Demise Tightens Spigot On $30 Billion Of Venture LendingStartups borrowed so they didn’t have to give up equity. After the collapse of market leader SVB, they should expect higher rates and fewer deals in the near future.
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First Republic shares fall on fresh liquidity fears as peers reboundShares of First Republic Bank slumped 13.1% on Monday, after a report the regional bank could raise more money fanned worries about its liquidity despite a $30 billion rescue last week.
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First Republic Bank Looms Large for U.S. Regulators After Credit Suisse SaleAfter UBS agreed to purchase Credit Suisse, Treasury Secretary Janet Yellen and Fed Chair Jerome Powell sought to reassure investors in the U.S. where First Republic Bank has become U.S. officials’ main concern
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First Republic Bank: Shares fall 17% following second credit rating downgradeShares of First Republic Bank tanked by over 17% in premarket trading Monday morning amid news that S&P Global issued its second credit downgrade for the embattled bank within a week.
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WSJ News Exclusive | Jamie Dimon Leading Efforts to Craft New First Republic Bank Rescue PlanBreaking: JPMorgan Chase CEO Jamie Dimon is leading discussions with the chief executives of other big banks about fresh efforts to stabilize troubled First Republic Bank
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