Business Standard

JPMorgan CEO leading talks for new First Republic rescue plan: Report

A spokesperson for First Republic pointed to an earlier statement where the bank said it was "well-positioned to manage short-term deposit activity"


by Niket Nishant in Bengaluru; Editing by Devika Syamnath

JPMorgan Chase & Co CEO Jamie Dimon is leading talks with the chiefs of other big banks about fresh efforts to stabilize First Republic Bank, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Shares of First Republic fell 46% to $12.41 as investors fretted that the $30 billion deposited by several big U.S. banks into the lender would not be enough to ease its troubles.
The banks are considering an investment into First Republic, the WSJ report said, adding that the plan could involve converting

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 20 2023 | 10:33 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to