Articles for Republic Bank

How bots and short sellers brought down First Republic Bank
11 months, 2 weeks ago

How bots and short sellers brought down First Republic Bank

Daily Mail  

Bots and fake accounts spread misinformation about First Republic Bank, triggering the withdrawal of $100billion in deposits and driving its share price down until it became the second-biggest bank failure in U.S. history, according to a new report. The yellow bars show suspected activity by bots during two major peaks, which coincided with huge withdrawals of money and the eventual …

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Opinion: Downtown San Francisco had a good run. Can it recover?
1 year, 7 months ago

Opinion: Downtown San Francisco had a good run. Can it recover?

LA Times  

Pedestrians walk past the headquarters of First Republic Bank, which was seized by regulators and sold to JPMorgan Chase Bank, becoming the latest San Francisco business to topple. First Republic Bank, another San Francisco success story, went under after it couldn’t retain its wealthy customers and was sold to JPMorgan Chase. Now barely a day passes without the San Francisco …

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As First Republic Bank faltered, five members of Congress dumped their personal stock investments
1 year, 8 months ago

As First Republic Bank faltered, five members of Congress dumped their personal stock investments

Raw Story  

At least five members of Congress in mid-March dumped their personal stock shares in now-defunct First Republic Bank — trades that potentially saved the lawmakers or close family members thousands, if not tens of thousands of dollars, according to a Raw Story analysis of congressional financial records. RELATED ARTICLE: A Democratic congressman who says Congress shouldn’t trade stock violated existing …

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First Republic Bank sold to JPMorgan Chase: What you need to know
1 year, 8 months ago

First Republic Bank sold to JPMorgan Chase: What you need to know

Firstpost  

The federal government seized First Republic Bank and sold it to JPMorgan Chase on Monday, ending the lender’s six-week-long free fall and reassuring depositors that their money is safe. First Republic Bank’s failure had much the same roots as the collapses of Silicon Valley Bank and Signature Bank — spooked depositors and investors pulling their money and selling their shares …

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Bank stocks continue to fall following First Republic demise
1 year, 8 months ago

Bank stocks continue to fall following First Republic demise

LA Times  

Comerica is among the regional bank stocks wobbling Tuesday in the wake of regulators closing First Republic Bank and selling the vast majority of its operations to JPMorgan Chase in a fire sale. Bank stocks fell sharply Tuesday, led downward by smaller banks with heavy exposure to uninsured deposits and commercial banks such as Western Alliance Bank, PacWest Bancorp, Comerica …

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First Republic collapses: Are other US banks at risk?
1 year, 8 months ago

First Republic collapses: Are other US banks at risk?

Hindustan Times  

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have also contributed to its undoing. What's more, the large …

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'First Republic Bank was severely mismanaged, would be held accountable': White House
1 year, 8 months ago

'First Republic Bank was severely mismanaged, would be held accountable': White House

Hindustan Times  

Decisive actions taken by U.S. regulators to seize First Republic Bank and facilitate its takeover by JPMorgan Chase & Co will protect depositors and ensure the banking system stays stable, White House press secretary Karine Jean-Pierre said on Monday. People walk past a First Republic bank in Manhattan on May 01, 2023 in New York City. Jean-Pierre told reporters that …

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Why First Republic failed. Are other banks to follow?
1 year, 8 months ago

Why First Republic failed. Are other banks to follow?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy First Republic Bank has become …

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First Republic Bank Is Seized, Sold to JPMorgan in Second-Largest U.S. Bank Fail
1 year, 8 months ago

First Republic Bank Is Seized, Sold to JPMorgan in Second-Largest U.S. Bank Fail

Live Mint  

Regulators seized First Republic Bank and struck a deal to sell the bulk of its operations to JPMorgan Chase & Co., heading off a chaotic collapse that threatened to reignite the recent banking crisis. San Francisco-based First Republic, the second-largest bank to fail in U.S. history, lost $100 billion in deposits in a March run following the collapse of fellow …

Bank Interest Rates Billion Republic Jpmorgan Deposits Collapse
US Regulators Seize Assets Of First Republic Bank, To Be Sold To JPMorgan
1 year, 8 months ago

US Regulators Seize Assets Of First Republic Bank, To Be Sold To JPMorgan

ABP News  

First Republic Bank's assets were taken over by the US regulators and will be acquired by JPMorgan Chase after rescue efforts failed to undo the damage from wrong-way investments and depositor runs that have roiled regional lenders, news agency Bloomberg reported on Monday. BREAKING: First Republic Bank has officially been closed by regulators, making it the second biggest bank failure …

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Regulators seize First Republic Bank, sell to JPMorgan Chase
1 year, 8 months ago

Regulators seize First Republic Bank, sell to JPMorgan Chase

The Hindu  

Regulators seized troubled First Republic Bank early on May 1 and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. San Francisco-based First Republic is the third midsize bank to fail in two months. The Federal Deposit Insurance Corporation said early on May …

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JPMorgan will assume control of all First Republic deposits but not company's corporate debt
1 year, 8 months ago

JPMorgan will assume control of all First Republic deposits but not company's corporate debt

Daily Mail  

San Francisco-based First Republic had total assets of $229.1 billion as of April 13 Regulators seized the bank on Monday and a deal to sell its assets was struck First Republic Bank has been sold to JPMorgan Chase after regulators seized it on Monday, making it the third major bank to fail in two months. Pictured: First Republic Bank headquarters …

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Opinion: It’s not just First Republic that failed. It’s the whole banking system
1 year, 8 months ago

Opinion: It’s not just First Republic that failed. It’s the whole banking system

LA Times  

First Republic Bank became the second-biggest bank failure in U.S. history after the lender was seized by the Federal Deposit Insurance Corp. and sold to JPMorgan Chase on Monday. The collapse of Silicon Valley Bank and now First Republic underscores how the effect of risky decisions at one bank can quickly spread into the broader financial system. At Silicon Valley …

Financial System Executives Risk Fed Banks Valley Lehman
Warren: First Republic collapse shows how deregulation made “too big to fail” banks “even worse”
1 year, 8 months ago

Warren: First Republic collapse shows how deregulation made “too big to fail” banks “even worse”

Salon  

This article originally appeared at Common Dreams. "The failure of First Republic Bank shows how deregulation has made the too big to fail problem even worse," said Warren in response to the news. "As part of the transaction," said the FDIC, "First Republic Bank's 84 offices in eight states will reopen as branches of JPMorgan Chase Bank, National Association, today …

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Markets may stay cautious due to US bank woes
1 year, 8 months ago

Markets may stay cautious due to US bank woes

Deccan Chronicle  

MUMBAI: Late Sunday night decision by US regulators on troubled First Republic Bank and US Federal Reserve meeting outcome on May 3 may keep global markets volatile after last week’s bullish moves. San Francisco headquartered First Republic Bank, whose share price fell over 40 per cent on Friday, is the third major US bank to fail after Silicon Valley Bank …

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First Republic Bank Is a Problem With No Easy Solution
1 year, 8 months ago

First Republic Bank Is a Problem With No Easy Solution

Live Mint  

First Republic Bank is running up against a grim reality in its fight for survival: There are seemingly no good options. That prompted a group of 11 big banks to deposit $30 billion with First Republic last month in hopes of stabilizing it. Its proposals included a plan whereby the other banks would buy First Republic’s loans or securities, or …

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First Republic Bank deposits tumble over $100 bn, explores layoff in Q2
1 year, 8 months ago

First Republic Bank deposits tumble over $100 bn, explores layoff in Q2

Live Mint  

First Republic Bank shares sank more than 20% after the closing bell on Monday after the lender said deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet. The deposit slump overshadowed profits that beat expectations for the beleaguered lender, which was shored up through an injection of …

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First Republic Bank shares slide in volatile trading session
1 year, 9 months ago

First Republic Bank shares slide in volatile trading session

Associated Press  

Shares of First Republic Bank fell another 47% Monday as investors remain uneasy about the bank’s financial condition even after a group of the nation’s largest financial institutions teamed up on a $30 billion rescue package. The FDIC said Monday that there’s been “substantial interest” from multiple parties for Silicon Valley Bridge Bank. The agency said it’s going to allow …

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’Raises more questions than it answers’, Bill Ackman on FRB’s $30 bn rescue plan
1 year, 9 months ago

’Raises more questions than it answers’, Bill Ackman on FRB’s $30 bn rescue plan

Live Mint  

Hitting out at the $30 billion rescue package for First Republic Bank, investor Bill Ackman called it an act of spreading the risk of financial contagion to achieve “false sense of confidence”. In his recent tweet, Bill Ackman said the move by the largest US banks to come forward to deposit $30 billion with First Republic “raised more questions than …

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Asian shares up after First Republic aid spurs Wall St rally
1 year, 9 months ago

Asian shares up after First Republic aid spurs Wall St rally

Associated Press  

BANGKOK — Shares advanced Friday in Asia, tracking a rally on Wall Street after a group of big banks offered a lifeline to First Republic Bank, the lender investors had focused on in their latest hunt for troubles in the banking industry. The S&P 500 jumped 1.8% Thursday, erasing earlier losses following reports that First Republic Bank could get help …

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Third collapse in a week? Big US banks rush to rescue First Republic Bank
1 year, 9 months ago

Third collapse in a week? Big US banks rush to rescue First Republic Bank

Hindustan Times  

Eleven of the biggest U.S. banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third to fail in less than a week and head off a broader banking crisis. San Francisco-based First Republic serves a similar clientele as Silicon Valley Bank, which failed last week after depositors withdrew …

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Major US Banks Launch $30 Billion Rescue Plan For First Republic Bank
1 year, 9 months ago

Major US Banks Launch $30 Billion Rescue Plan For First Republic Bank

ABP News  

In a bit to prevent a third bank in the US to fail, eleven of the biggest banks in the United States on Thursday announced a $30 billion rescue package for First Republic Bank. First Republic also caters to similar clientele as Silicon Valley Bank, which collapsed last week after depositors pulled back almost $40 billion. First Republic's shares nosedived …

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Global markets: SGX Nifty to First Republic Bank — triggers that you should know
1 year, 9 months ago

Global markets: SGX Nifty to First Republic Bank — triggers that you should know

Live Mint  

Global market update: The equity market in the US and Europe gained on Thursday session after European Central Bank interest rate hike by 50 bps and Swiss Central Bank lending credit support to Credit Suisse Bank eased fear of banking crisis in the region. Here we list out important triggers that may dictate Indian stock market today: US stock market …

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US banking giants pledge $30bn to prop up First Republic Bank
1 year, 10 months ago

US banking giants pledge $30bn to prop up First Republic Bank

Al Jazeera  

Leaders of top US financial agencies say move is ‘welcome’ amid fears California-based lender could be next to collapse. The largest banks in the United States have moved to shore up First Republic Bank in an effort to ease fears that the regional lender could be the next domino to fall after the second-largest banking collapse in US history. A …

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