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First Republic Bank should be next to fall in America; According to Bloomberg, the bank is showing signs of decline and is evaluating a possible sale of the company

First Republic Bank – Photo: Background/Facebook

Global markets are apprehensive about recent declines Financial institutionsuch as Silicon Valley Bank, in the US, another bank is starting to show negative signs. According to Bloombergoh First Republic Bank It is considering various options to ‘keep it afloat’, including a possible sale.

According to the report, the bank, if put up for sale, is expected to attract interest from major creditors. San Francisco-based First Republic is also looking at options to increase liquidity.

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On Wednesday (15), rating agencies S&P Global and Fitch downgraded the First Republic’s credit rating. According to S&P, the bank poses a “deposit outflow risk” even as it increases the availability of loans due to the actions of US federal regulators and aims to reduce the risks associated with the banks’ current situation. .

On Sunday, two days after SVB closed, First Republic said it would seek $70 billion in additional funding from the Federal Reserve and JP Morgan. Founded in 1985 and focused on Private Bank And the bank says its client base is more diversified than SVB’s, which relies heavily on private wealth management, startups and venture capital firms.

This Thursday, First Republic started the day down 30% At New York Premarket.

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