The stocks of the 11 banks that contributed $30 billion in uninsured deposits to embattled lender First Republic Bank on Thursday were all lower in premarket...
The stocks of the 11 banks that contributed $30 billion in uninsured deposits to embattled lender First Republic Bank on Thursday were all lower in premarket trade Friday, amid concerns the unprecedented action had failed to prop up the regional bank’s stock. First Republic Bank stock FRC was down 4% premarket, after it said it would suspend its dividend to conserve cash.
First Republic Bank stock FRC was down 4% premarket, after it said it would suspend its dividend to conserve cash. JP Morgan analysts said the move by banks to help a smaller rival was a positive; “however, news late last night of post market drop in First Republic’s stock price is likely to rattle investors as markets remain fragile,” they wrote early Friday. JP Morgan Chase JPM , one of four big banks to contribute $5 billion as part of the $30 billion deal, was down 0.
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: Eleven banks deposit $30 billion into First Republic BankIn a short statement, the Federal Reserve (Fed), the Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC) and the Office of th
Read more »
Eleven Banks Deposit $30 Billion in First Republic BankEleven banks have deposited $30 billion in First Republic Bank, according to a joint statement from the heads of the Treasury, Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency.
Read more »
First Republic Bank gets $30 billion in deposits from big banksFirst Republic Bank has received $30 billion in deposits from several big banks, the banks said in a statement on Thursday, as part of a rescue package for the lender.
Read more »
Regulators praise move by 11 banks to deposit $30 billion into First Republic BankFollowing the announcement that a group of 11 major U.S. banks have deposited a total of $30 billion in First Republic Bank federal banking regulators...
Read more »
Big banks step in with $30 billion to save San Francisco-based First Republic BankSan Francisco based First Republic is getting a boost from within the banking industry.
Read more »
Wall Street rides to the rescue as 11 banks pledge $30 billion to First Republic BankBREAKING: A group of the largest U.S. banks pledge $30 billion to stabilize First Republic Bank after its stock was pummeled in a wave of nerves over the banking system.
Read more »