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JPMorgan, Citi and more back First Republic Bank with $30bn in cash
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fnlondon.comThe biggest banks in the US swooped in to rescue First Republic Bank with a flood of cash totalling $30bn, in an effort to stop a spreading panic following a pair of recent bank failures.
The bank’s executives came together in recent days to formulate the plan, discussing it with Treasury secretary Janet Yellen and other officials and regulators in Washington, DC, people familiar with the matter said.
JPMorgan, Citigroup, Bank...
Read more on fnlondon.comAbout this in other media
Watch Treasury Secretary Janet Yellen speak live to banking conference cnbc.com /1 year ago
Yellen to Say U.S. Could Move to Protect Deposits at Other Banks wsj.com /1 year ago
Janet Yellen will pledge to protect depositors at smaller US banks theguardian.com /1 year ago
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