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FRANCE24

Big banks create $30B rescue package for First Republic • FRANCE 24 English

FRANCE24, 17 Mar 2023
Eleven of the biggest US banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third to fail in less than a week and head off a broader banking crisis. San Francisco-based First Republic serves a similar clientele as Silicon Valley Bank, which failed last week after depositors withdrew about $40 billion in a matter of hours.
#FirstRepublic #bank #crisis

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