First Republic Bank trading halted amid crisis and potential government seizure
Market Musing-g

First Republic Bank trading halted amid crisis and potential government seizure

2 Minuten
1 year ago

First Republic Bank experienced a trading halt on Wednesday as the stock market opened, with volatility cited as the reason for the suspension. The bank’s stock($FRC) prices reached 52-week lows, prompting concerns. However, this marks the second consecutive day that First ...

First Republic Bank trading halted amid crisis and potential government seizure

Inhaltsverzeichnis

First Republic Bank experienced a trading halt on Wednesday as the stock market opened, with volatility cited as the reason for the suspension. The bank’s stock($FRC) prices reached 52-week lows, prompting concerns.

However, this marks the second consecutive day that First Republic Bank’s trading was halted, as the stock price has plummeted by 94% this year.

$FRC stock sinks by another 18% today. Source: TradingView

First Republic Bank explores salvational measures

As the crisis unfolds, First Republic Bank is investigating possible salvational measures to address its situation. The bank’s stock price dropped by more than 23% following a 49% decline yesterday. In contrast, several other regional banks saw their stocks rise, highlighting the challenges faced by First Republic Bank.

For example, PacWest’s stock increased by 15% despite losing billions in the first quarter. Meanwhile, First Republic Bank is reportedly exploring options to shield itself from potential government seizure. This possibility was reported yesterday.

Multiple reports suggest that First Republic Bank may divest $50 billion to $100 billion of various assets to address the current predicament. The bank itself has stated that it is seeking “strategic options” to mitigate the crisis.

Last month, during a budding banking crisis, the bank lost access to $100 billion in deposits.

0 people liked this article

Related Articles

Market Musing-g
Apple Removes Bitcoin Whitepaper from macOS Ventura Beta
Apple has removed the Bitcoin whitepaper that was hidden in the system files of macOS Ventura beta 3. The file was located in a folder within the Image Capture app along with other random assets, s...
1 year ago
4 Minuten
Market Musing-g
Spain Halts a Crypto Scam That Drained Over $110 Million From Investors (Report)
The Guardia Civil detained one person who was supposedly part of the crime unit.
1 year ago
3 Minuten
Market Musing-g
Merkle Trade Launches First Trading Contest with a $3,000 Prize Pool
Singapore, Singapore, April 26th, 2023, ChainwireMerkle Trade is an innovative decentralized platform that allows users to trade cryptocurrencies and synthetic assets with advanced trading features...
1 year ago
2 Minuten
Market Musing-g
Bitcoin Collapses $2K+ as US Govt and Mt.Gox Wallets Allegedly Awake
Within a single hour on Wednesday afternoon, the price of Bitcoin fell by more than $2,000. The post Bitcoin Collapses $2K+ as US Govt and Mt.Gox Wallets Allegedly Awake appeared first on Tokenist.
1 year ago
5 Minuten
Market Musing-g
5 Tips To Protect Your Crypto Wallet From Exploits
Web 3.0 is one of the biggest innovations the world has seen in recent times. This decentralized online ecosystem is an integration of various new-age concepts, such as blockchain technology, token...
1 year ago
8 Minuten
NFTs
ERC721 Batch Transfer: The Ultimate Solution for NFT Management
ERC721 Batch Transfer: The Ultimate Solution for NFT Management
1 year ago
2 Minuten