After a few weeks of relative calm in the banking sector, this week saw renewed volatility as First Republic Bank – one of the 20 largest banks in the country with over $200 billion of assets just a few months ago – finally succumbed to the ongoing fallout of March’s Silicon Valley Bank implosion, despite receiving significant emergency funding from the Fed and a $30 billion infusion of deposits from the country’s largest banks a few weeks ago.
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After a few weeks of relative calm in the banking sector, this week saw renewed volatility as First Republic Bank – one of the 20 largest banks in the country with over $200 billion of assets just a few months ago – finally succumbed to the ongoing fallout of March’s Silicon Valley Bank implosion, despite receiving significant emergency funding from the Fed and a $30 billion infusion of deposits from the country’s largest banks a few weeks ago.