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JPMorgan is advising First Republic on another potential lifeline, sources say | CNN Business

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JPMorgan Chase’s investment bank has been hired to advise First Republic as the embattled regional bank tries to ease concerns about its financial condition

, people familiar with the matter told CNN. First Republic’s share price has plummeted 90% to record lows over the past month as investors took scrutinized lenders with a high amount of uninsured depositors — a response to the collapse of Silicon Valley Bank and Signature Bank earlier this month. First Republic’s nosedive continued even after 11 of America’s biggest banks, including JPMorgan, Citigroup and Wells Fargo, provided First Republic with a $30 billion rescue last week.

Now, San Francisco-based First Republic has hired JPMorgan’s investment bank to help management explore its options, including potentially raising additional capital, the people familiar with the matter told CNN. Both JPMorgan and First Republic declined to comment. News of JPMorgan’s hiring was previously reported by CNBC First Republic shares rallied 22% in premarket trading Tuesday, rebounding from a 47% plunge on Monday.

 

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Take financial advice from Jeffrey Epstein's buds - great idea! 🙄

2008 jpmorgan? well isn't this cute

Where is my money 🙂

I thought CNN was out of business ?

No way. The banker that approved the fed orgin is allowed to have privileges

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