“This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,” the Treasury Department said in a statement Thursday. The major banks include JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Truist. The $30 billion infusion will give the struggling San Francisco lender much-needed cash to meet customer withdrawals and buttress confidence in the US banking system during a tumultuous moment for lenders.
Although not close to SVB’s massive percentage of uninsured deposits , First Republic has a sizable 68% of total deposits that are uninsured, according to S&P Global. That led many customers to exit the bank and put their money elsewhere, creating a problem for First Republic: It has to borrow money or sell assets to pay customers their deposits in cash. To make money, banks use a portion of customers’ deposits to give out loans to other customers.
Bankers really stick together.
2008...2.0 loading
Treasonous tRump cut regulations he should pay! Ohio's cleanup too, another regulation he cut! Treasonous tRump's responsible for ongoing damage plus millions of lives lost due to more cuts, yet raised national debt by 7.8 TRILLION! 🤨
Goverment back door write off for the banks , this is just a attempt to change the optics of another financial failure inorder to attempt prevent a domino effect
America is socialism now, congratulations
Another reason you shouldn’t keep all your money in one financial institution! Most people don’t have more than the insured amount, but it can be a real hardship until the problem is fixed.
shit
I need a professional driver in Ohio
The question is who will help to rescue them if this becomes a contagion
Why? These are businesses. Loans make money.
Good, when FRC implodes hopefully it takes the 11 others with it 🙏
Remember when the west refused to call them IRGCterrorists? Now they are trying to brainwash the world into accepting their beliefs. This time they are publishing a book in Italy praising a terrorist: 'Qassem Soleimani'. Nowhere in the World is Safe From Them.
That $30 billion is to ensure the rich get back their money.
AirtelNigeria I recharged 07085532978 with ₦1,000 since two days and I'm yet to receive it.
FRC🚀🚀🚀🚀
All this is an introduction and a reason to introduce total control over humanity, which is digital currency, all this was well thought out even before the artificial pandemic.
No democrat went to border hearing. Democrats love illegals and all are American hating scum.
Am I wrong or are the banks giving the bank money? That’s the way I see it
Pedowood
The goal of the executives of these banks is to get the bad investments (clean energy, esg, dumb tech) onto the Fed’s balance sheet so that they can continue getting rich making bad investments. But hey “look over there a protest!!! Stormy daniels!!! Fucking idiots”
Scott Galloway should never be allowed onCNN. He is wrong! CEO Steak from banks and her blamed entrepreneurs who have money to build brands for being stupid. He is an accomplice to these tenets if he doesn’t call it lines it is. All because of Janet’s interest rate increases.
I want to know how much gold we have in fort knox. Do we even have any gold? Is the government just printing money? What’s going on?
🧐 Seems like corporations, entities, and organizations are receiving huge bails while the average joe gets penalties and late fees. The math is mething, not mathing.
What does this all mean at the end of the day?
The media is causing panic not these handful of banks that don’t handle business the right way.
Did Joe Biden have any that China money in that bank just wondering if you were going to report on that
My honest reaction to that information:
You, CNN, condone! Don’t be fooled. CEO sold stock for $40,000,000 before collapse which caused collapse! Take the money and run! No criminal charges! We are fools!
All bullshiit! They are trying to scare you as the Board of Directors Steak the money from these failing banks. $84,000,000 taken by the CEO and executive Staff at Silicon Valley Bank just before collapse. Criminal charges! Not for rich people like them and Trump!
I’m confused, if these banks are saving other banks and all of these banks have debts and negative balances, what money are they saving them with?
They conveniently missed the Biden China money scams. No big.
Stephen Colbert drills VP Harris on what her job is as vice president. Her role is to find the nicest pastry and ice cream shops in the local region and write them down, so when President Biden is in town, he knows where to get dessert !
And I bet one of those banks it’s not Wells Fargo or chase.
Here let me help you out CNN since you’re not covering the story
Wow.
We should all stop paying our credit card debt too eh, banks are crooks.
Right 30 government banks...
MohayyedinEbrahimi, an Iranian political prisoner who is sentenced to death, has been transferred to solitary confinement. Today on March 16, he had the last meeting with his family. His life is at imminent risk of execution by IRGCterrorists. Be his voice IranRevolution
Then these banks will soon fold too?
Don't you have banking regulations in the US? After the last financial collapse I would've thought you learned a lesson.
Only if 11 banks got together & bailed me outta my misery....
The problem with the White House is that it plays politics in a poker way
Look, the government made a 'one nation bank'. Bet the government will control soon.
Shut them all down and accept the collapse while we're prepared for it rather than fighting it so it can occur when we're not expecting it. Like creating an intentional avalanche to save financial lives. A controlled shutdown on a rotation will allow reconstruction. stability
Wells Fargo need to keep all of their money considering folks deposits went missing just last week 😂💀
Govt to small businesses that make ill-advised economic choices: Suck it up. Govt to Wall Street banks that do the same: Don't fret, Uncle Sam's coming to the rescue! Just mind-boggling.
Brandon begged them to! 🤦
It’s like using a credit card to pay off another credit card
House Oversight Committee: Biden family received over $1 million after a Chinese company wired $3 million to Robinson Walker LLC, a company owned by a Biden family associate.
Another bank 🏦🏧 in ICU
Let me guess the bank is a Big Democrat donor?
Why is it acceptable for rich CEOs to run banks in to the ground and sell off billions in stock before the failure but not poor people who have been victimized by the same corporations to receive assistance?
I bet 2% of CNN viewers understand the Fed’s role in all of this mess. They probably think Janet Yellen did a great job as Fed president.
Bailing out the rich and corrupt never ends well
That's why they're fighting bitcoin
I’m hoping they do the same thing for Black banks or Black businesses as well! Good luck!😂😂
Aww damn it, I had Deutsche in the bank fail sweepstake. Someone just won £100. Dave you lucky got!!
First Republic also noted it was eligible to seek additional funding from the Fed if there were heightened demand for withdrawals.
Why will 11 banks come together to rescue one 🤔 seems there’s more to it than we know!
According to bank documents we’ve already obtained, we know one company owned by a Biden associate received a $3 million dollar wire from a Chinese energy company. Start reporting the news.
The bank has said its balance sheet is sound and that depositors are safe , but investors have still worried they were vulnerable to a similar run on deposits as Silicon Valley Bank .
Appreciate it
Is this about to be financial crisis 2.0 again because of crappy banking laws? wow! 😳👀
Just let them fail. This is ridiculous.
The rescue comes after confidence in smaller lenders cratered following the collapse of Silicon Valley Bank and Signature Bank in what has been an extraordinary week for U.S. lenders .
Thanks Biden keep printing money since 2021 and raising interest rates at a record pace. It's like a car accident turning into a 20 pile wreck cause now you wanna slam on the brakes of printing money and giving handouts.
Bailout again Instead of learning their lesson
The Biden family is so crooked, when in the hell is someone going to do something about this, THIS IS RIDICULOUS. BIDEN MUST BE IMPEACHED NOW!!!!
First Republic Bank becomes the latest bank to be rescued , this time by its rivals .
😈la salida más rápida es tomar dinero de los trabajadores 💸💵💸💵💸💵💸💵💸📉📈📉📉📉de sus pensiones 📈📉💸💵💸💵💸💵💸💵📈📈📈o de los servicios públicos 💵💸💵💸💵💸💵💸💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸💵💸son muchos los bonos sin valor 💵💸💵💸💵💸
Thank the gods for credit unions
J.P. Morgan , Bank of America , Citigroup and Wells Fargo are among these 11 banks .
smokeandmirrors
I'd like to know if this bank is teaching CRT before giving them any bailouts
The impacts are getting closer? Still fun living in a Western country?
This is a circle jerk. Withdraw your money from smaller banks so that the larger banks getting your deposits from the smaller banks can redeposit in the smaller banks
How much should we bet that the Feds blackmailed the 11 banks to give $$$ to First Republic?
Is my deposits now at $FRC First Republic Bank
Greed is catching up to all of these banks.
They’re not doing it out of the goodness of their hearts…. Either complicit or profit to be made! Bankcollapse
How about actually rescuing the millions of people being effected by the flooding in CA
They’re just dropping like dominos
Get your Bitcoin before your bank (and money) collapses.
It's like the big banks don't want to be regulated again.
Slay?