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Big banks save First Republic with $30B rescue plan

Por: New York Post Business March 16, 2023

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The nation’s largest banks threw sinking First Republic a $30 billion lifeline on Thursday to save the troubled lender after the collapse of two other regional banks. JPMorgan Chase, Citigroup, Bank of America and Wells Fargo will each contribute $5 billion of deposits as part of the deal, the banks said in a joint press release. Morgan Stanley and Goldman Sachs will each contribute $2.5 billion, while BNY Mellon, PNC Bank, State Street,... + full article



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