: : Eleven U.S. banks pledge billion for First Republic #FinanceUSA #StockMarketNEWS Bank of America BAC , Citigroup C , JPMorgan Chase JPM and Wells Fargo WFC said Thursday they are each making
@stockMarketNEWS 12 Days ago
: Eleven U.S. banks pledge billion for First Republic #FinanceUSA #StockMarketNEWS
Bank of America BAC , Citigroup C , JPMorgan Chase JPM and Wells Fargo WFC said Thursday they are each making billion uninsured deposits as part of a billion package from 11 banks into First Republic Bank FRC. The move “reflects their confidence in First Republic and in banks of all sizes,” the banks said in a joint statement. “It demonstrates their overall commitment to helping banks serve their customers and communities.” Goldman Sachs GS and Morgan Stanley MS are each making an uninsured deposit of .5 billion, and BNY MellonBK , PNC Bank PNC , State Street STT, Truist TFC and U.S. Bank USB are each making an uninsured deposit of billion. First Republic stock is up 15%.
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