![]() Trading was halted despite President Biden addressing the burgeoning crisis.įirst Republic was one several regional banks that led Monday’s decline in the banking sector - fueling more fears that large financial institutions were at risk.Īmong other regional lenders, Western Alliance was down 82.% and PacWest Bancorp slid 52% before their trading was halted for volatility.Ĭharles Schwab’s stock price fell by some 12% before the opening bell on Monday after it reported a 28% decline in average margin balances to $60.6 billion in February from a year earlier. The San Francisco-based First Republic Bank, a regional lender with more than $216 billion in assets under management, was last down 67% at $27.08 before its trading was halted for volatility. Shares of First Republic Bank tanked by nearly 70% in pre-market trading on Monday before trading in the stock halted - just hours after federal regulators announced that they would step in and assume control of failed lenders Silicon Valley Bank and Signature Bank. Silicon Valley Bank crisis ‘clearly’ a bailout, ex-FDIC chairman says Chuck Schumer gives donations linked to Silicon Valley Bank to charityīiden’s bank bailout just the latest in decades of DC disastersīro-bank blues, a win for a hero and other commentary
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