Shares of First Republic Bank continued their free-fall despite a rare move by the biggest U.S. banks to pump $30 billion into the regional lender.
from 11 of the biggest U.S. banks last week in an effort to prevent its collapse. Over the weekend, the bank's credit rating was downgraded by S&P Global Ratings, which said the rescue package should ease near-term liquidity pressures, but"may not solve the substantial business, liquidity, funding and profitability challenges" that it believes the San Francisco-based bank is now likely facing.
The FDIC said Monday that there's been"substantial interest" from multiple parties for Silicon Valley Bridge Bank. The agency said it's going to allow parties to submit separate bids for Silicon Valley Bridge Bank and its subsidiary Silicon Valley Private Bank in order to simplify the bidding process and expand the pool of possible bidders.
Bids for Silicon Valley Bridge Bank must be submitted by by 8 p.m. ET on Friday, while bids for Silicon Valley Private Bank are due by 8:00 p.m. ET on Wednesday.protection, and Silicon Valley Bridge Bank was not included in the Chapter 11 filing.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
S&P cuts First Republic deeper into junk, says $30 billion infusion may not solve problemsFirst Republic Bank saw its credit ratings downgraded deeper into junk status by S&P Global, which said the lender's recent $30 billion deposit infusion from 11 big banks may not solve its liquidity problems.
Leer más »
S&P cuts First Republic further into junk after $30 billion rescueS&P downgrades First Republic further into junk status as the bank's $30 billion rescue may not be enough to solve liquidity problems
Leer más »
First Republic Bank shares slide in volatile trading sessionTrading in shares of First Republic Bank was halted multiple times on Monday as uneasiness still surrounds the financial institution following its $30 billion rescue package. First Republic Bank received a $30 billion rescue package from 11 of the biggest U.S.
Leer más »
First Republic shares fall on fresh liquidity fears as peers reboundShares of First Republic Bank slumped 13.1% on Monday, after a report the regional bank could raise more money fanned worries about its liquidity despite a $30 billion rescue last week.
Leer más »
First Republic Bank Looms Large for U.S. Regulators After Credit Suisse SaleAfter UBS agreed to purchase Credit Suisse, Treasury Secretary Janet Yellen and Fed Chair Jerome Powell sought to reassure investors in the U.S. where First Republic Bank has become U.S. officials’ main concern
Leer más »
First Republic Bank: Shares fall 17% following second credit rating downgradeShares of First Republic Bank tanked by over 17% in premarket trading Monday morning amid news that S&P Global issued its second credit downgrade for the embattled bank within a week.
Leer más »