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Search resuls for: "David French Lananh Nguyen"


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☆ Exclusive: First Republic considers downsizing if capital raise fails -sources
  + stars: | 2023-03-21 | by ( David French Lananh Nguyen | David French | Lananh Nguyen | ) www.reuters.com   time to read: +2 min
Unrealized mark-to-market losses in First Republic's loan book and investment portfolio have been an obstacle to clinching an investment, Reuters has reported. A sale of loans to other parties, including private equity firms, is one option under consideration, two of the sources said. While a sale of the entire bank remains possible, First Republic is still currently focused on a capital raise, the third source said. The sources cautioned the situation remained fluid and asked not to be identified because the deliberations are confidential. Shares in First Republic extended gains following the news, up 60% to $19.44.
☆ U.S. sees deposits stabilizing as some regional banks reel
  + stars: | 2023-03-20 | by ( David Lawder David French Lananh Nguyen | David Lawder | David French | ) www.reuters.com   time to read: +3 min
Many of the regional banks have also said that their deposit base has stabilized. "The regional banks have come under pressure because they are less equipped to handle a withdrawal of deposits the way the big banks are," said Mark Chandler, chief market strategist at Bannockburn Global Forex in New York. In a move of solidarity, most of the major banks agreed on Thursday to deposit $30 billion in First Republic. At least four U.S. lawmakers said on Sunday they would consider whether a higher federal insurance limit on bank deposits than the current $250,000 threshold was needed to inspire more confidence in the system. Buffett has yet to prop up any of the regional banks.
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