San Francisco\u002Dbased First Republic Bank is looking at increasing liquidity to a possible sale as its stock slumped to a decade low. Read on.
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The bank, which is also weighing options for shoring up liquidity, is expected to draw interest from larger rivals, said some of the people, all of whom requested anonymity discussing confidential information. No decision has been reached and the bank could still choose to remain independent, they said. A spokesperson for First Republic Bank declined to comment.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“The additional borrowing capacity from the Federal Reserve, continued access to funding through the Federal Home Loan Bank, and ability to access additional financing through JPMorgan Chase & Co. increases, diversifies, and further strengthens First Republic’s existing liquidity profile,” the bank said in Sunday’s statement.Article content
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