First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have also contributed to its … Read more
Shares of regional lenders fell in morning trading on Monday following the collapse of First Republic Bank, the third major casualty of the biggest crisis to hit the U.S. banking sector since 2008. The KBW Regional Banking Index was down nearly 1%. Among individual movers, Citizens Financial Group, PNC Financial Services Group, Truist Financial Corp … Read more
The ongoing instability of the world banking sector will urge central banks to go slow on aggressive monetary policy. We can expect the rates to peak in the next couple of months.And the world economy and stock market will take it with open arms. Generally, it is a good development, preaching out the probability of … Read more