New Statement on Banking Crisis from FED and US Treasury Department!

The Fed has said it is ready to provide liquidity to the appropriate institutions in response to the recent banking crisis in the United States.

However, according to other information received, it will deposit funds in JP Morgan, Citi, Bank of America and Wells Fargo First Republic Bank. The inflow of deposits to First Republic Bank is expected to be completed by Thursday. Banks want to invest about $30 billion in First Republic Bank.

US regulators announced that 11 banks had deposited $30 billion in deposits with First Republic Bank.

US regulators say this show of support from a group of major banks was welcomed and demonstrates the resilience of the banking system

White House officials said in their statements that the US Treasury Department is in contact with their Swiss counterparts regarding Credit Suisse.

However, JP Morgan CEO Dimon met with US Treasury Secretary Janet Yellen today.

Shares of First Republic were halted several times on Thursday due to volatility. Shares of the company briefly rose 22% in the afternoon after losing more than 30% earlier in the day.

The bank’s problems reflect continued concerns over the banking system following the collapse of Silicon Valley Bank and Signature Bank.

Both Fitch Ratings and S&P Global Ratings downgraded First Republic Bank on Wednesday over concerns that depositors could withdraw their cash. This caused many customers to leave the bank and deposit their money elsewhere, creating a problem for First Republic: The company had to borrow money or sell its assets in order to cash out customers’ deposits.

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