newsroom 11 banks stepping up to provide a financial life line to first republic bank, the regional u.s. bank facing significant challenges the last week. [ sirens ] this is an area that will see the line of storms move through the overnight hours and early morning hours friday. we know the intercept was intentional. we know the aggressive behavior was intentional and very unprofessional and very unsafe. live from london, this is cnn newsroom with max foster and bianca nobilo. it is friday, march 17, 9:00 a.m. in london, 4:00 a.m. in new york where new trading day gets under way in just a few hours. investors may be wondering if another regional bank needs rescuing. it looks better for first republic after 11 major banks extended a lifeline to keep it afloat. a large percentage of uninsured deposits prompted many customers to pull their money from the bank. and shares soared after the news. right now futures are steady if not rising slightly and markets acr
rescue of first republic includes wells fargo, citigroup, bank of america and morgan stanley. first republic is the third regional bank to flirt with failure in recent weeks. and shares of first republic closed up 34more than 10% on thursday. the dow gained more than 1%, nasdaq was up 2.5%. more now from rahel solomon. reporter: two major developments thursday. on the banking front helping calm the nerves of investors. 11 banks now stepping up to provide a financial life line to first republic bank. the regional u.s. bank facing significant challenges over the last week similar to those that led to the demise of silicon valley bank and including customers rushing to withdraw their money. the banks now stepping up include jpmorgan chase, bank of america, citigroup and wells fargo who announced that they are making a $5 billion unsured