Large US banks injected the funds into the San Francisco-based bank on Thursday, swooping in to rescue the lender caught up in a widening crisis.
Large U.S. banks injected the funds into the San Francisco-based bank on Thursday, swooping in to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-size U.S. lenders over the past week.* First Republic Bank received $30 billion in deposits from several big banks, the banks said in a statement on Thursday, as part of a rescue package for the lender.
* U.S. Treasury Secretary Janet Yellen said the U.S. banking system remains sound and Americans can feel confident that their deposits are safe. * Credit Suisse's average liquidity coverage ratio, a measure of how much cash-like assets the bank has, did not change between March 8 and March 14, the Swiss lender said on Thursday, despite the global banking crisis.
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