BBCNEWS BBC News June 4, 2024 14:41:00
He is our business correspondent. —— here. investors and customers have been deserting first republic bank. in two months its shares have tanked from $147 each to just $3.50 and $100 billion of deposits have been withdrawn. when confidence goes, money tends to follow. the us banking regulator has broken a multibillion—dollar rescue deal. the investment banking giantjp morgan chase will take on all 84 branches and all deposits will be guaranteed by the us government. if you were a first republic depositor, you can breathe a big sigh of relief today. if you are under 250,000, the us guaran...