Regional banks experience volatility in response to market news.
TL;DR Summary
First Republic Bank rose 4.4% in premarket trade after closing 16% down in yesterday's trading session on comments from Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell. Yellen said regulators are not looking to provide blanket deposit insurance to stabilize the US banking system, while Powell dashed hopes on rate cuts this year. Other regional banks, including Western Alliance and PacWest Bancorp, also rose.
Topics:business#deposit-insurance#federal-reserve#finance#first-republic-bank#janet-yellen#regional-banks
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