Regulators closed SF bank on May 1.
Federal regulators could have more aggressively monitored First Republic Bank's practices, but officials said in a report on Friday that it's unclear if such measures would have shielded the San Francisco-headquartered bank from its collapse earlier this year.
The FDIC found that First Republic's business model and management strategies made it more vulnerable to rising interest rates and the"contagion that ensued following the failure of SVB." Ex // Top Stories Breed’s biggest challenger wants answers on retail theft in SF Supervisor Ahsha Safai, who is running for mayor next year, is pushing London Breed for more resources dedicated to retail theft
First Republic's stock price cratered on April 24 when officials revealed the bank's lost deposits on an earnings call, prompting more clients to pull from the bank. Four days later, federal and state regulators downgraded First Republic to problem status, all but ending its ability to borrow from the Federal Reserve Discount Window to meet clients' demands for liquidity.
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