First Republic Bank Seeking Government Rescue Amid Plummeting Stock Prices
Following reports of a potential seizure by US authorities, First Republic Bank is seeking a government rescue amid its plummeting stock prices. Moreover, the California-based lender has seen trading halted on two consecutive days due to increased volatility. According to a report from the New York Post, First Republic Bank is seeking assistance from the Biden Administration. Subsequently, the bank is hopeful for a governmental rescue following its $100 billion loss in deposits. First Republic Seeking Government Aid The budding banking crisis that took down Silicon Valley Bank has continued this month. Now, it threatens First Republic Bank , which has seen its prices fall drastically following exposure to the events in the banking sector last month. Yet, new reports signal that the bank is set to turn toward US authorities for aid, as its price has decreased more than 94% in the year. First Republic Bank is reportedly seeking a government rescue amid its stock marke...