Federal authorities are reportedly considering an expansion of the Federal Reserve's emergency lending program to help banks like First Republic Bank shore up their balance sheet.
are reportedly weighing a potential expansion of an emergency lending program that would allow banks to access more funding to meet their liquidity needs which could buy struggling First Republic Bank more time to regain stability., known as the Bank Term Funding Program , was created earlier this March following the failure of Silicon Valley Bank and Signature Bank to give banks more access to liquidity and safeguard depositors’ funds.
Authorities are reportedly considering an expansion of the Fed's emergency lending program for banks as a way to help institutions like First Republic Bank. The bank saw its stock price plunge to its lowest level in at least a decade from between $115 and $120 per share at the beginning of March to $12.36 per share as of Friday’s close. First Republic also received a downgrade of its credit rating cut to junk status by S&P Global Ratings and Fitch Ratings earlier this month,
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US explores additional bank support, favoring First Republic: ReportFirst Republic Bank may receive additional support as US authorities reportedly consider options for expanding an emergency credit line for banks.
Read more »
US mulls more support for banks while giving First Republic time, Bloomberg reportsU.S. authorities are considering the expansion of an emergency lending facility that would offer banks more support, in an effort that could give First Republic Bank more time to shore up its balance sheet, Bloomberg News reported on Saturday.
Read more »
US mulls more support for banks while giving First Republic time - Bloomberg NewsU.S. authorities are considering the expansion of an emergency lending facility that would offer banks more support, in an effort that could give First Republic Bank more time to shore up its balance sheet, Bloomberg News reported on Saturday.
Read more »
First Citizens said to be near deal for Silicon Valley Bank: reportFirst Citizens BancShares Inc (FCNCA.O) was in advanced talks to acquire Silicon Valley Bank (SIVB.O) and close to making a deal.
Read more »