Shares of First Republic Bank surged more than 50% on Tuesday — latching onto a major rebound of regional bank stocks — after Treasury Secretary Janet Yellen pledged support to US banks in a bid to tamp down fears of financial contagion.that the federal government is ready to step in to help other troubled lenders“The steps we took were not focused on aiding specific banks or classes of banks. Our intervention was necessary to protect the broader US banking system,” Yellen said.
Fears of contagion in the regional banking sector triggered a market rout last week that has not been seen since Russia invaded Ukraine, a Bank of America’s Global Fund Manager Survey showed. Treasury Department officials are looking into whether federal regulators have enough emergency authority to insure deposits above the current $250,000 cap on accounts without the consent of Congress, For now, the US government will step in and protect depositors, 50 Park Investments CEO Adam Sarhan said.
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First Republic shares drop 18% as fears grow of more banks failingFirst Republic, the San Francisco-based regional bank, saw its stock price sag after Standard & Poor’s slashed its credit rating from BB+ to B+. WORLD WAKING UP to the fact that a bank deposit is an unsecured loan to a leveraged counterparty, that the FDIC insurance fund only has $128bn, that total deposits in US commercial banks=$17.6 trn, &...here's the big one: that money itself is a confidence game (always has been)🤔
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First Republic jumps more than 20%, leads comeback rally in regional banks TuesdayInvestors hoped for some sort of strategic action by the troubled bank or another big regulatory move to stem the downward spiral in the sector. Well what do you know?!
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First Republic likely to weather second S&P downgrade within a week: ReportFirst Republic Bank is reportedly poised to face another downgrade by S&P Global Inc even after a group of 11 banks scrambled to stabilize it.
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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. 😂😂😂 ThePreparedHom1 And just like that… $30 billion 💨 In the coming weeks some love affairs will have many sorrows. 1 Timothy 6:10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. 😗😗😗😗😗
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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 How long will you continue to lie to people... The American and European economy is getting incredibly bad. you can't hide it from people... banks are crashing... inflation and interest rates are rising.. people don't trust banks anymore “The Fed and five major central banks announced a coordinated effort to improve liquidity by moving U.S. dollars among themselves each day, instead of once a week.” ✍🏻This move may lead the Fed to suspend interest rate hikes at the next meeting How did it collapse despite the 'too big to fail' system? I thought it was there to prevent these huge banks from drowning....
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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
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