First Republic Bank shares slide, trading halted in volatile trading session

First Republic Bank received a $30 billion rescue package from 11 of the biggest U.S. banks last week in an effort to prevent its collapse. First Republic Bank has since been downgraded by S&P Global Ratings which said that the rescue package should ease near-term liquidity pressures, but it may not solve the substantial business, liquidity, funding, and profitability challenges that it believes the San Francisco-based bank is now likely facing.

Qualified insured banks and qualified insured banks working with non-bank partners will be able to submit whole-bank bids or bids on the deposits or assets of the institutions. Bank and non-bank financial firms will be allowed to bid on asset portfolios. The shuttering of Silicon Valley Bank and of New York-based Signature Bank has revived bad memories of the financial crisis that plunged the United States into the Great Recession of 2007-2009.

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First Republic Bank shares slide in volatile trading sessionTrading in shares of First Republic Bank was halted multiple times on Monday as uneasiness still surrounds the financial institution following its $30 billion rescue package. First Republic Bank received a $30 billion rescue package from 11 of the biggest U.S. Damn nobody has to say with Mr and Mrs tax money does goes where, or is it who fucking cares.
Source: AP - 🏆 728. / 51 Read more »

First Republic Bank: Shares fall 17% following second credit rating downgradeShares of First Republic Bank tanked by over 17% in premarket trading Monday morning amid news that S&P Global issued its second credit downgrade for the embattled bank within a week.
Source: dcexaminer - 🏆 6. / 94 Read more »