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
WASHINGTON — The Federal Reserve raised concerns about risk management at Silicon Valley Bank at least four years before its failure earlier this month, documents show. In January 2019, the Fed issued a warning to SVB SIVB -60.41% on its risk management systems, according to a presentation released last year to employees of SVB’s venture … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Top U.S. banks including JPMorgan Chase & Co. discuss joint rescue of First Republic Bank FRC -25.61% 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., Bank of America Corp. and Wells Fargo & Co. will provide a lifeline … Read more
Silicon Valley Bank executives went to Goldman Sachs Group Inc. GS -3.09% end of February looking for advice: they needed to fundraise, but weren’t sure how to do it. Soaring interest rates had weighed heavily on the bank. Deposits and the value of the bank’s bond portfolio had fallen sharply. Moody’s Investors Service was preparing … Read more
Bank of the First Republic FRC 27.29% and other regional lenders recouped their worst selloff in three years on Tuesday, a sign that regulators’ emergency measures to contain a banking crisis are easing investors. The sharpest rebounds were seen among regional banks which suffered the worst declines in recent days. Shares of the First Republic, … Read more
First Republic Bank was under pressure following the collapse of Silicon Valley Bank. Photo: Devin Blaskovich for The Wall Street Journal Updated March 12, 2023 9:00 PM ET Bank of the First Republic FRC -14.84% said it strengthened its finances with additional funding from the Federal Reserve and JPMorgan Chase JPM 2.54% & What. The … Read more
Bank of the First Republic FRC -14.84% came under renewed pressure amid Friday’s collapse of Silicon Valley Bank as investors tried to determine which other banks might face similar risks. First Republic shares fell 52% in early trading before recovering to near the previous day’s closing level, only to end the day down 15%. Investors … Read more
Goldman Sachs GS 2.29% Group Inc. has admitted defeat in its ambitious plan to be everyone’s bank. Now he has to figure out how to be a bank for someone. Chief executive David Solomon told analysts and shareholders this week at an in-person investor day at his headquarters that the company was cutting consumer banking … Read more
Goldman Sachs Group Inc. GS -1.63% Chief Executive David Solomon said on Tuesday the bank was “considering strategic alternatives” for its consumer platforms business, which includes specialty lender GreenSky and credit card partnerships with Apple Inc. and General Motors Co. Mr Solomon made the comments at the bank’s Investor Day. “I’ve certainly done a lot … Read more
