Shares of San Francisco-based First Republic Bank lost more than half their value, igniting fears that it may be the next bank to collapse.
First Republic spent the weekend trying to reassure clients that their money is safe, releasing a statement saying,"the additional borrowing capacity from the Federal Reserve, continued access to funding through the Federal Home Loan Bank and ability to access additional financing through JP Morgan Chase and Company increases, diversifies, and further strengthens First Republic's existing liquidity profile.
Despite the failures of SVB and Signature Bank and concerns about more than a dozen other banks, experts said they still foresee a healthy future for most banks. "I think it will all settle down," San Jose State University assistant finance Professor Matthew Faulkner said."I do believe that the U.S. financial institutions overall are very sound. The guardrails in place are very good. They're much better capitalized than they were in 2008. I don't see this as a huge systemic problem barring that not everybody runs and tries to get their money out of banks.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Historic homes in San Jose, San Francisco damaged by fire, rainHistoric homes in San Jose and San Francisco have been damaged by fire and rain, respectively.
Baca lebih lajut »
San Francisco's historic Trocadero House damaged by falling treeThe rainy, windy weather that battered the Bay Area last week is being blamed for knocking a tree into a beloved San Francisco landmark, the Trocadero Clubhouse in the city's Stern Grove.
Baca lebih lajut »
Rain sinks outdoor tourist service worker profits in San FranciscoThe Bay Area prayed for rain and the prayer was answered but, for those working San Francisco's tourist trade, the blessing was more of a curse.
Baca lebih lajut »
There’s an abandoned octagon house hidden in the San Francisco woodsThe unusual-shaped home was once one of the most important buildings in San Francisco.
Baca lebih lajut »
17 Actually Worthwhile Tourist Traps in San FranciscoTake off your fanny pack and tie on a crab bib. Here’s where to bring friends and family for the full San Francisco experience.
Baca lebih lajut »
First Republic says liquidity is 'very strong' in bid to calm nervesFirst Republic says its liquidity remains 'very strong' in bid to calm nerves following Silicon Valley Bank's collapse
Baca lebih lajut »