{"id":84190,"date":"2023-03-17T00:06:40","date_gmt":"2023-03-17T04:06:40","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=84190"},"modified":"2023-03-16T23:23:10","modified_gmt":"2023-03-17T03:23:10","slug":"wall-street-rides-to-the-rescue-as-11-banks-pledge-first-republic-30-billion-in-deposits","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2023\/wall-street-rides-to-the-rescue-as-11-banks-pledge-first-republic-30-billion-in-deposits.html","title":{"rendered":"Wall Street rides to the rescue as 11 banks pledge First Republic $30 billion in deposits"},"content":{"rendered":"\n<p>(CNBC) A group of financial institutions has agreed to deposit $30 billion in <a href=\"https:\/\/www.cnbc.com\/quotes\/FRC\/\">First Republic<\/a> in what\u2019s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon. <a href=\"https:\/\/www.cnbc.com\/quotes\/BAC\/\">Bank of America<\/a>, <a href=\"https:\/\/www.cnbc.com\/quotes\/WFC\/\">Wells Fargo<\/a>, <a href=\"https:\/\/www.cnbc.com\/quotes\/C\/\">Citigroup<\/a> and <a href=\"https:\/\/www.cnbc.com\/quotes\/JPM\/\">JPMorgan Chase<\/a> will contribute about $5 billion apiece, while <a href=\"https:\/\/www.cnbc.com\/quotes\/GS\/\">Goldman Sachs<\/a> and <a href=\"https:\/\/www.cnbc.com\/quotes\/MS\/\">Morgan Stanley<\/a> will deposit around $2.5 billion, the banks said in a <a rel=\"noreferrer noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20230316005695\/en\/\" target=\"_blank\">news release<\/a>. <a href=\"https:\/\/www.cnbc.com\/quotes\/TFC\/\">Truist<\/a>, <a href=\"https:\/\/www.cnbc.com\/quotes\/PNC\/\">PNC<\/a>, <a href=\"https:\/\/www.cnbc.com\/quotes\/USB\/\">U.S. Bancorp<\/a>, <a href=\"https:\/\/www.cnbc.com\/quotes\/STT\/\">State Street<\/a> and <a href=\"https:\/\/www.cnbc.com\/quotes\/BK\/\">Bank of New York Mellon<\/a> will deposit about $1 billion each.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/03\/16\/group-of-financial-institutions-in-talks-to-deposit-about-20-billion-in-first-republic-sources-say.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) A group of financial institutions has agreed to deposit $30 billion in First Republic in what\u2019s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon. Bank of America, Wells Fargo, Citigroup and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-84190","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=84190"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84190\/revisions"}],"predecessor-version":[{"id":84191,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84190\/revisions\/84191"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=84190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=84190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=84190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}