First Republic Bank, facing a crisis of confidence from investors and customers, is set to receive a $30 billion lifeline from a group of America's largest banks.
"This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system," the Treasury Department said in a statement yesterday.
The major banks include JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Truist.
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