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First Republic Bank's Credit Downgrade Sparks Deposit Flight Concerns

1 min read
Source: MarketWatch
First Republic Bank's Credit Downgrade Sparks Deposit Flight Concerns
Photo: MarketWatch
TL;DR

First Republic Bank has been downgraded to 'junk' status by S&P Global Ratings due to concerns over further deposit flight that could hurt its profitability. The bank's deposit base is more concentrated than most large regional banks, with a portion above the FDIC's $250,000 threshold at risk of withdrawal. Fitch also downgraded the bank's debt rating.

Topics:businessfinance#credit-downgrade#deposit-flight#finance#first-republic-bank#profitability#sandp-global-ratings
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  1. First Republic Bank downgraded to 'junk' by S&P on risk of deposit flight  MarketWatch
  2. First Republic Bank stock tumbles on credit downgrade and deposit worries  CNN
  3. A bank failure, a panic, and a race to close on a home  Yahoo Finance
  4. Confessions of a Panicked First Republic Client: Me  The Epoch Times
  5. First Republic Bank: Buy When There Is Blood In The Street (NYSE:FRC)  Seeking Alpha

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