Major bank chief executives are gathering in Washington for a two-day scheduled meeting starting on Tuesday, with the future of First Republic Bank to be discussed, sources familiar with the matter said.
for First Republic, which could include a sale or equity infusion.is advising First Republic on its options to raise capital from investors, a source familiar with the situation previously said.
One source familiar with the situation said that the banks were aiming to work out details for what needs to be done for First Republic within the coming 24 hours.Shares of First Republic jumped 55% on Tuesday. In a boost to sentiment, U.S. Treasury Secretary Janet Yellen said that while the U.S. banking system is stabilizing, further steps to protect bank depositors may be warranted if smaller institutions suffer deposit runs.
Reporting by Nupur Anand, Lananh Nguyen, Tatiana Bautzer and Saeed Azhar in New York; editing by Megan Davies and Paul Simao 696 4829;
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Republic's future to be discussed as major bank CEOs gather, sources sayMajor bank chief executives are gathering in Washington for a two-day scheduled meeting starting on Tuesday, with the future of First Republic Bank to be discussed, sources familiar with the matter said.
Read more »
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.
Read more »
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
Read more »
First Republic tumbles 25% as Credit Suisse takeover ignites banking crisis fearsFirst Republic shares tank 25% after UBS deal to buy Credit Suisse underscores risks of a banking crisis
Read more »
First Republic shares are sliding again Monday after a credit rating downgradeS&P cut its credit rating to B+ from BB+ on Sunday after first lowering it to junk status just last week.
Read more »
First Republic shares slide 18% Monday after a credit rating downgradeS&P cut its credit rating to B+ from BB+ on Sunday after first lowering it to junk status just last week.
Read more »