The First Republic fire sale is an astonishing comedown for a lender that was long the envy of finance. Rounding out the top four are Silicon Valley Bank and Signature Bank, a New York-based lender that also failed in March. Analysts said exactly how regulators resolve First Republic will be important in shoring up confidence in the broader banking system. Some said they don’t expect a First Republic failure to kick off a new round of turmoil in the industry. A group of the nation’s biggest banks, including JPMorgan and PNC, came to the rescue with a $30 billion deposit.

Source: Wall Street Journal May 01, 2023 01:56 UTC