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- US officials lead urgent rescue talks for First Republic Bank – Reuters
US officials lead urgent rescue talks for First Republic Bank – Reuters
Citing three sources familiar with the situation, officials from the Federal Deposit Insurance Corporation (FDIC), the Treasury Department and the Federal Reserve (Fed) are coordinating urgent talks to rescue First Republic Bank, as private-sector efforts led by the bank's advisers have yet to reach a deal.
Additional takeaways
“The government bodies have in recent days started to orchestrate meetings with financial companies about putting together a lifeline for the troubled lender.”
“The government's involvement is helping bring more parties, including banks and private equity firms, to the negotiating table.”
“It is unclear whether the US government is considering participating in a private-sector rescue of First Republic.”
Market reaction
The US Dollar Index is holding the renewed upside at around 101.70 on the above headlines, adding 0.16% on the day.
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