First Republic Bank gains 16.0% amid prospects of additional government aid

5:59 PM March 27, 2023

First Republic (FRC.US) and shares of other regional US banks rebounded further away from recent lows  after Bloomberg reported that US authorities are considering expanding an emergency credit line for banks to give the lender more time to strengthen its balance sheet. 

First Republic has already received a liquidity infusion of $70 billion, including $30 billion in deposits from 11 of the US largest banks plus loans from the Federal Reserve's lending facilities. 

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

Also news that First Citizens (FCNCA.US) will acquire a large part of assets of failed lender Silicon Valley Bank helped ease stress in the banking sector. 

First Republic (FRC.US) shares plunged 90% in less than two weeks. Price recently bounced off all-time low at $8.65, however upward movement is capped by 50 SMA (red line). Source: xStation5


Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please make sure you fully understand all risks.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.

Losses can exceed deposits