First Republic will receive $30 billion from eleven banks as part of its bailout program 09:39

11 of the largest US banks will invest $30 billion in their own deposits in California investment First Republic as part of the bailout of the loan structure. In this respect Wrote Bloomberg, citing the source.

The money will be provided by JPMorgan, Bank of America and Citigroup. The deal could be officially announced on Friday. Details of the First Republic recovery plan are still being worked out, but the draft agreement approved by the US government has already been sent to financial and federal agencies.

At the end of last week, the press service of the Federal Deposit Insurance Corporation (FDIC) reported About the destruction of the American Silicon Valley Bank (SVB), which ranks 16th in the list of the largest credit institutions in the USA.

The previous day Financial Times WroteSince the beginning of March 2023, the market capitalization of the six largest US banks (Citigroup, Morgan Stanley, Bank of America, Goldman Sachs, JP Morgan Chase and Wells Fargo) has dropped 13%. Credit institutions lost about $165 billion.

This week, State Duma Speaker Vyacheslav Volodin she made a joke About the onset of the crisis in the US banking sector due to the departure of Anatoly Chubais, the former general manager of Rosnano, from Russia.



Source: Gazeta

Popular

More from author

Medvedev visited a training ground in the Leningrad region 20:39

Russian Security Council Deputy Chairman Dmitry Medvedev visited the Pesochnensky training ground in the Leningrad region on Monday, May 27. This was reported...

Moscow Stock Exchange index fell 20:42

Moscow Stock Exchange Index (IMOEX) fell below 3,300 points. The Russian stock market index decreased by 2.87 percent to 3299.14 points as of...

A patient in a hospital in Moscow harassed his roommate, a 19-year-old student 20:28

A student was subjected to harassment from his roommate at an infectious disease center in northwest Moscow. In this respect he is writing...

Infrastructure facility was damaged in the Dnepropetrovsk region of Ukraine 20:25

Many objects were damaged in the Nikopol district of the Dnepropetrovsk region of Ukraine. The head of the local regional administration, Sergei Lysak,...