JPMorgan CEO Jamie Dimon leads efforts to craft new rescue plan for First Republic Bank

Discussions, though preliminary, have focused on how the industry could arrange an investment that would increase the bank’s capital, according to people familiar with the matter. Among the options on the table, people said, is investment in the First Republic by the banks themselves. Eleven major banks banded together last week to deposit $30 billion … Read more

5 Ways US Bank Failures May Impact the Fed’s March 2023 Rate Decision

The Federal Reserve is meeting this week to decide its next move on interest rates just as its year-long fight against inflation is colliding with a crisis in the financial sector. The Fed’s next move will be closely watched as recent bank failures bring back memories of the 2008 financial crisis. Even ahead of Wednesday’s … Read more

First Republic Bank bailout involves America’s biggest banks

The largest banks in the United States, including JPMorgan Chase JPM 1.59% & Co., discuss a joint bailout of First Republic Bank FRC -20.73% that could include a major injection of capital to prop up the beleaguered lender, people familiar with the matter said. JPMorgan works with Citigroup Inc., VS 0.90% Bank of America Corp. … Read more

Biggest banks lose billions as Credit Suisse decline fuels sell-off

Bank of the First Republic FRC -21.37% fell more than 20% after the bank’s rating was downgraded by S&P Global and Fitch Ratings, which both pointed to the risk of deposit outflows from the bank. The stock closed at its lowest level since 2012 and is down more than 70% from a week ago. US … Read more

The First Republic rallies to volatile trade

Bank of the First Republic FRC 26.98% and other regional lenders clawed back some losses after their worst selloff in three years, in a volatile trading session that reflected how investors were still pricing in regulators’ emergency measures to contain a banking crisis. Shares of First Republic, which slumped on Monday, closed up around 27% … Read more