First Republic Bank
Wall Street’s biggest banks swooped in to rescue First Republic after a week of turmoil. First Republic was among the banks swept up in the contagion following the recent failure of Silicon Valley Bank parent SVB Financial Corp. Banks including JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co., deposited a total of $30 billion in an effort to stop the spreading panic. First Republic shares dropped 33% Friday.
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