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

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

From SVB’s sudden collapse to Credit Suisse fallout: 8 charts show financial market turmoil

From SVB’s sudden collapse to Credit Suisse fallout: 8 charts show financial market turmoil

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

America’s biggest banks are racing to save the First Republic

America’s biggest banks are racing to save the First Republic

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

Regional banks stage big stock market rally after Monday’s rout

Regional banks stage big stock market rally after Monday’s rout

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

FDIC transfers all deposits from Silicon Valley Bank to newly created bridge bank

FDIC transfers all deposits from Silicon Valley Bank to newly created bridge bank

The Federal Deposit Insurance Corp. said Monday it had transferred all deposits, insured and uninsured, from the old Silicon Valley Bank to a new full-service bridge bank operated by the FDIC as part of an action to protect all depositors from the bank. . The move comes after the regulator closed the bank and its … Read more

The First Republic secures additional funding from the Fed and JPMorgan

The First Republic secures additional funding from the Fed and JPMorgan

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

Wall Street gears up for Silicon Valley’s next bank

Wall Street gears up for Silicon Valley’s next bank

Investors feared the fastest interest rate increases in decades meant something in the economy could snap. Last week it was. Now investors are wondering: what else could crack? Silicon Valley Bank was shut down on Friday after being hit by a run on its deposits, the second-largest bank failure in US history. The fallout rocked … Read more

The First Republic hit by the bankruptcy of a Silicon Valley bank

The First Republic hit by the bankruptcy of a Silicon Valley bank

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

Silicon Valley Bank Shut Down by Regulators, FDIC Takes Over

Silicon Valley Bank Shut Down by Regulators, FDIC Takes Over

SANTA CLARA, Calif. — Silicon Valley Bank collapsed Friday in the second-largest bank failure in U.S. history after a run on deposits doomed the tech-focused lender’s plans to lift new capital. The Federal Deposit Insurance Corp. said it took control of the bank through a new entity it created, Deposit Insurance National Bank of Santa … Read more