The largest banks in the United States have moved to shore up First Republic Bank in an effort to ease fears that the regional lender could be the next domino to fall after the second-largest banking collapse in US history.Shares of the crippled California-based bank pared earlier losses to trade higher on Wall Street on Thursday, following reports it could receive an infusion of funds from some of the country’s most prominent financial institutions.A group of 11 private US banks, including Bank of America, Citigroup and JPMorgan Chase, have since announced they would deposit $30bn into First Republic.
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