CVC Coin Weekly Analysis And Price Prediction

Us Banks Provide $30 Billion Aid To First Republic Bank To Support Balance Sheet

First Republic Bank, a mid-sized US bank, has received $30 billion in aid from 11 major US banks, including JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley. The US Department of the Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation announced the deposit as a measure to support the bank’s balance sheet and alleviate concerns about the US banking sector among investors.

US Banking Sector Faces Challenges from COVID-19 Pandemic and Government Stimulus

The move comes after Credit Suisse, a globally significant bank, had to receive emergency aid of $54 billion from the Swiss central bank to alleviate investor concerns. Credit Suisse’s troubles had caused anxiety in the European banking sector, and there were fears of a new global financial crisis after two mid-sized US banks were seized.

FOR MORE INFO:www.turkishnyradio.com