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Search resuls for: "Tatiana Bautzer Chris Prentice"


2 mentions found


☆ First Republic shares fall as Yellen says not considering 'blanket insurance' on bank deposits
  + stars: | 2023-03-23 | by ( Tatiana Bautzer Chris Prentice | Tatiana Bautzer | Chris Prentice | ) www.reuters.com   time to read: +4 min
Morgan Stanley analyst Manan Gosalia, in a report earlier this week, set a target price of $54 for First Republic shares in a best-case scenario. "I have not considered or discussed anything having to do with blanket insurance or guarantees of deposits," she said. The Morgan Stanley report considered that a potential extension of FDIC insurance could bring a majority of First Republic's customers back. Even if it clinches a cash infusion, the lender will probably need to take losses on securities in its so-called held-to-maturity portfolio, the Morgan Stanley analysts wrote. In the worst-case scenario, First Republic's shares would sink to just $1, Morgan Stanley analysts estimated.
☆ First Republic shares fall sharply as Yellen says Treasury will not insure all deposits
  + stars: | 2023-03-22 | by ( Tatiana Bautzer Chris Prentice | Tatiana Bautzer | Chris Prentice | ) www.reuters.com   time to read: +4 min
Morgan Stanley analyst Manan Gosalia, in a report earlier this week, set a target price of $54 for First Republic shares in a best-case scenario. That hope was reduced on Wednesday, after Yellen told a hearing of the U.S. Senate's Appropriations Subcommittee on Financial Services that the government "is not considering insuring all uninsured bank deposits." The Morgan Stanley report considered that a potential extension of FDIC insurance could bring a majority of First Republic's customers back. Even if it clinches a cash infusion, the lender will probably need to take losses on securities in its so-called held to maturity portfolio, the Morgan Stanley analysts wrote. In the worst-case scenario, First Republic's shares would sink to just $1, Morgan Stanley analysts estimated.
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