First Republic Bank at risk of collapse after deposit flight
Shares in US bank plummet as scale of outflows becomes clear and rescue options remain obscure
US-based First Republic Bank came under renewed pressure today (April 26) as a continued flight by depositors led to questions over whether the bank could survive as long as the weekend.
The bank’s share price dropped 49.4% on April 25, and fell a further 32% within the first hour of trading today.
Regulators, Treasury officials and bankers are reportedly debating rescue options but it remains unclear whether the government considers the bank systemically important enough to step in.
First
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