First Republic Bank to receive billions of dollars from large banks – sources

(Reuters) -First Republic Bank’s shares jumped nearly 22% before trading was halted on Thursday after several large banks were said to be in talks to deposit billions of dollars to salvage the embattled lender, three sources with knowledge of the matter said. The banks are set to deposit $29 billion, according to one of the sources. This follows a round of financing on Sunday raised through JPMorgan Chase & Co, which gave First Republic access to a total of $70 billion in funds, but failed to calm investors as worries of a contagion deepened in the wake of two large-scale collapses in the bank…

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