America’s group of banks is planning a relief package of at least $ 20 billion to save ‘First Republic Bank’.
Sources gave this information to the Associated Press on Thursday. The bailout plan comes at a time when investors shunned San Francisco-run First Republic Bank, raising concerns that it could sink after Silicon Valley Bank and Signature Bank.
Sources with knowledge of the matter said that JPS Morgan Chase, Citigroup, Wells Fargo and Goldman Sachs are part of the group which is planning to deliver the relief package.
He told that it is possible that $ 20 billion will be given to the First Republic in the form of deposits and capital, but this amount can also be $ 30 billion.
