First Republic tells CNBC the bank isn't seeing that many depositors leave, JPMorgan funding working
Publishing timestamp: 2023-03-13 16:06:38
Summary
First Republic Bank has been able to meet withdrawal demands with the help of additional funding from JPMorgan Chase. The bank has not seen massive outflows of deposits and is operating as usual. The bank received additional liquidity from the Federal Reserve and JPMorgan, bringing its unused liquidity to $70 billion. However, the stock plunged on Monday. Concerns around First Republic come after the recent failure of Silicon Valley Bank and Signature Bank.
Sentiment: NEUTRAL
Keywords: markets, investment strategy, jpmorgan chase & co, first republic bank, business news, banks, breaking news: markets,