. First Republic Bank Rescue Involves Biggest U.S. Banks « JO LEE MAGAZINE

The Wall Street Journal – The biggest banks in the U.S., including JPMorgan Chase JPM 1.53%increase; green up pointing triangle & Co., are discussing a joint rescue of First Republic Bank FRC -19.16%decrease; red down pointing triangle that could include a sizable capital infusion to shore up the beleaguered lender, people familiar with the matter said.

JPMorgan is working with Citigroup Inc., C 0.89%increase; green up pointing triangle Bank of America Corp. and Wells Fargo & Co. to provide a lifeline to First Republic, the people said. Others involved include Morgan Stanley and Goldman Sachs Group Inc. as well as U.S. Bancorp and PNC Financial Services Group Inc., PNC 2.85%increase; green up pointing triangle the people said…

More at The Wall Street Journal


Comments are closed.