A First Republic Bank branch in Midtown Manhattan in New York City. First Republic saw about 90 per cent of its market cap evaporate as the stock collapsed last month. Reuters
A First Republic Bank branch in Midtown Manhattan in New York City. First Republic saw about 90 per cent of its market cap evaporate as the stock collapsed last month. Reuters

Business

Banking

US big banks that backed First Republic pushed to boost reserves

Biggest contributors plan to add about $100 million each in provisions as accounting rules covering for potential losses spur decision

Bloomberg

April 12, 2023