After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen lenders announced they will deposit $30 billion into the beleaguered bank’s coffers to shore up liquidity. U.S. banks have suffered from the financial contagion that followed the three bank failures last week. According to reports, depositors removed $8.8 billion from Charles Schwab Corporation’s prime money market funds.
Impact of Recent Bank Failures on U.S. Banking Industry Spurs Wave of Bailouts
Several banks received bailouts in the past week due to the collapse of three major U.S. banks. This event shook the banking industry, and banks of all
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