First Republic Bank’s $30 Billion Lifeline: Restoring Confidence in the Banking System
On March 16, 2023, it was reported that First Republic Bank, a California-based bank with assets over $200 billion, received a $30 billion lifeline from 11 banks. This news comes as a major boost for the bank, as it seeks to navigate the challenging economic environment in the wake of the COVID-19 pandemic. The $30 billion lifeline was provided through a consortium of banks, including JPMorgan Chase, Bank of America,…