US Banks Increase Reserves After First Republic Lifeline
TL;DR Summary
Some of the largest US banks, including JPMorgan Chase, Wells Fargo, Citigroup, and Bank of America, are planning to increase their reserves by about $100 million each after contributing to an infusion of deposits in First Republic Bank last month. This move indicates that the American banking system is still feeling the effects of the collapse of Silicon Valley Bank, even as the panic largely fades.
- Big Banks Boost Their Reserves Over First Republic Lifeline: Report Barron's
- Top US Banks to Reveal $521 Billion Deposit Drop, Most in Decade Yahoo Finance
- Biggest US Banks Plan to Bolster Reserves Bloomberg Television
- Big Banks That Shored Up First Republic Pushed to Boost Reserves Bloomberg
- US banks to set aside reserves after shoring up First Republic, sources say Reuters
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