Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse



Last week, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo each made a $5 billion uninsured deposit into First Republic Bank. In addition, Goldman Sachs and Morgan Stanley are each making an uninsured deposit of $2.5 billion, and BNY‑Mellon, PNC Bank, State Street, Truist and U.S. Bank are each making an uninsured deposit of $1 billion, for a total deposit from the 11 banks of $30 billion. This action is meant to reflect the institutions’ confidence in First Republic and in banks of all sizes in the wake of the collapse of Silicon Valley Bank and Signature Bank.


Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

  • Hidden
  • RAM Group Holdings does not share or sell your personal information. The information we ask you to furnish is limited to what is needed to process your order fully and completely. You may unsubscribe at any time. View our Privacy Policy.
  • Please Confirm permission for Monitor/Monitordaily to e-mail you.
  • Hidden

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
terry.mulreany@monitordaily.com
Susie Angelucci
Advertising: 484.459.3016
susie.angelucci@monitordaily.com

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com