US: Eleven banks deposit $30 billion into First Republic Bank – by MSalordFX RiskAversion Fed BankStocks DollarIndex
e Comptroller of the Currency announced a massive deposit of 11 banks into the Frist Republic Bank. Today, 11 banks announced $30 billion in deposits into First Republic Bank. This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system.US markets are up on Thursday, with the Dow Jones up by more than 1% and the Nasdaq gaining by 2.45%. The support from banks to the Frist Republic Bank was a key factor in today’s rally.
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