United Network News
  • HOME
  • ABOUT US
  • NEWS
    • WORLD NEWS
    • SITUATION REPORTS
    • FIELD MESSENGER REPORTS
  • BECOME A FIELD MESSENGER
    • ABOUT FIELD MESSENGERS
    • FREQUENTLY ASKED QUESTIONS
    • SUBMIT YOUR FIELD MESSSENGER REPORT
    • SUBMIT YOUR FEEDBACK VIDEO
    • SUBMIT YOUR QUESTION TO KIM
  • UNN MEMES
  • CONTACT US
    • UNN SUPPORT
    • FIELD MESSENGERS SUPPORT
No Result
View All Result
  • HOME
  • ABOUT US
  • NEWS
    • WORLD NEWS
    • SITUATION REPORTS
    • FIELD MESSENGER REPORTS
  • BECOME A FIELD MESSENGER
    • ABOUT FIELD MESSENGERS
    • FREQUENTLY ASKED QUESTIONS
    • SUBMIT YOUR FIELD MESSSENGER REPORT
    • SUBMIT YOUR FEEDBACK VIDEO
    • SUBMIT YOUR QUESTION TO KIM
  • UNN MEMES
  • CONTACT US
    • UNN SUPPORT
    • FIELD MESSENGERS SUPPORT
No Result
View All Result
United Network News
No Result
View All Result
Home World News North America

Some of the biggest banks in the US are depositing billions of dollars into San Francisco based First Republic Bank

  • March 17, 2023
Some of the biggest banks in the US are depositing billions of dollars into San Francisco based First Republic Bank

JP Morgan Chase, Bank of America, Citi Group, and Wells Fargo are contributing five billion deposits each and Goldman Sachs and Morgan Stanley are giving 2.5 billion a piece, the total adds up to 3 billion dollars.

Why are they doing this? Well, here’s a statement from the banks.

“This action by America’s largest banks reflects their confidence in First Republic and in banks of all sizes, and it demonstrates their overall commitment to helping banks serve their customers and communities.”

First Republic has been exploring strategic options including a possible sale. The news comes after first republic’s stock has been pummeled in recent days, sparked by the collapse of Silicon Valley Bank.

SVB, Signature Bank, and first republic all had a high number of uninsured deposits leading to concern that customers would pull their money out. The new deposits from the major banks are uninsured. Yesterday First Republic said that it had about $34 billion in cash not counting the new $30 billion in deposits. They had borrowed tens of billions of dollars from the Federal Reserve and the Federal Home Loan Bank over the past week but the bank says daily deposit outflows have now “slowed considerably,”.

First Republic typically caters to high-end clients and firms, and its business includes wealth management and residential real estate loans. The company reported more than $212 billion in assets at the end of December and generated more than $1.6 billion in net income last year.

Watch the Full Report Here

Tags: BailoutBank RunFederal ReserveFirst Republic BankSilicon Valley Bank
Facebook
Twitter
Telegram
WhatsApp
Email
Print

Related Posts

People who rely on the Wayback Machine to track changes in online news content are now facing some challenges

People who rely on the Wayback Machine to track changes in online news content are now facing some challenges

September 25, 2023
In Greece public sector workers marched in the streets of Athens protesting proposed labor law changes

Residents along the Klamath River in Northern California are watching history being made as a series of massive dams are being removed

September 22, 2023
People who rely on benefits from the US Social Security Administration have found themselves navigating a confusing system

People who rely on benefits from the US Social Security Administration have found themselves navigating a confusing system

September 20, 2023
Citigroup, the well-known banking giant, has announced a series of management changes affecting clients and stakeholders

Citigroup, the well-known banking giant, has announced a series of management changes affecting clients and stakeholders

September 18, 2023
The United Auto Workers Union in the US has gone on strike, potentially a significant number of employees out of work

The United Auto Workers Union in the US has gone on strike, potentially a significant number of employees out of work

September 15, 2023
There appears to be an increase in the number of animal bridges or wildlife crossings that help keep animals safe from moving cars

There appears to be an increase in the number of animal bridges or wildlife crossings that help keep animals safe from moving cars

September 13, 2023
Load More

Trending on United Network News >

People who rely on benefits from the US Social Security Administration have found themselves navigating a confusing system

Qantas airline is facing some legal issues for their decision to fire 1,700 ground staff members during the COVID-19 Pandemic

Residents along the Klamath River in Northern California are watching history being made as a series of massive dams are being removed

The Zimbabwean presidential election results are in, current president Emmerson Mnangagwa has secured his second term

In Greece public sector workers marched in the streets of Athens protesting proposed labor law changes

Situation Report Highlights >

13th. September 2023 Full situation report with Kimberly Goguen and Sunny Gault – An Important Update from the Office of the Guardian!

12th. July 2023 Full situation report with Kimberly Goguen and Sunny Gault – An Important Update from the Office of the Guardian!

Trending Field Messenger Reports >

Stepping back in time and exploring what everyday life was like at the Lincoln’s New Salem historic site

New Zealand just experienced unexpected and unusual snowfall

Santa prepares for the Christmas Holidays in Arizona

The Beauty of the Larapinta Trail Australia

Experience the spectacular views of the Pohorje mountains in Slovenia from the treetops walk

United Network Plus Movies >

Jupiter Ascending

Jupiter Ascending

May 26, 2023
The Dark Tower

The Dark Tower

May 26, 2023
Next Post
The Ite-Ike ceremony is performed during the New Year Festival or secretly before going to war in Eastern Nigerian communities

The Ite-Ike ceremony is performed during the New Year Festival or secretly before going to war in Eastern Nigerian communities

© 2023 Copyright  All Rights Reserved
  • ABOUT US
  • CONTACT US
  • TERMS
  • PRIVACY POLICY

Available on multiple devices

No Result
View All Result
  • HOME
  • ABOUT US
  • NEWS
    • WORLD NEWS
    • SITUATION REPORTS
    • FIELD MESSENGER REPORTS
  • BECOME A FIELD MESSENGER
    • ABOUT FIELD MESSENGERS
    • FREQUENTLY ASKED QUESTIONS
    • SUBMIT YOUR FIELD MESSSENGER REPORT
    • SUBMIT YOUR FEEDBACK VIDEO
    • SUBMIT YOUR QUESTION TO KIM
  • UNN MEMES
  • CONTACT US
    • UNN SUPPORT
    • FIELD MESSENGERS SUPPORT

© 2022 Copyright © All Rights Reserved
United Network News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist