is trying to raise more capital for First Republic Bank, The Wall Street Journal reported on Monday.
Trading of First Republic stock was paused after losing 37% of its value on Monday, but trading resumed in the early afternoon Eastern time, withCurrently, First Republic is trying to convert $30 billion in deposits from 11 different banks last week into a capital raise, said the WSJ report, which cited people familiar with the situation.
The WSJ also reported the banks may make an investment in First Republic as part of a capital injection.
Source: News Formal (newsformal.com)
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