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First Republic Bank’s stock has been tumbling all week and now the bank is seeking $30 billion to bail itself out, otherwise it may go the way of Silicon Valley Bank and Signature Bank.
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Uh First Republic Bank it’s a privilege To serve you well they may not be Serving you that much longer shares of The troubled financial institution Plunge this morning and trading was even Halted several times because of the Volatility the stock that was worth over A hundred and forty dollars just a Couple of months ago is now basically a Penny stock at around six bucks now the Banking crisis started with silicon bank And Signature Bank First Republic Bank Got in trouble at the same time but they Were bailed out by a group of large U.S Banks injecting 30 billion dollars into The institution now that worked for a While but then on Monday First Republic Bank disclosed that over a hundred Billion dollars have flowed out of the Institution in the first quarter of 2023 And they only have about 105 billion Dollars in deposits left this caused the Stock to slide from 16 on Monday Afternoon to below ten dollars on Tuesday and then today as the NBC came Out with a report on first Republic’s Bid to save itself the stock dropped as Low as 478 and then rebounded to above Six dollars if anyone managed a cheeky Swing trade on that they did well Looking at a return of like 40 or Something but the Outlook doesn’t look Good in cnbc’s report they are saying That first Republic is asking again for
Big Banks to inject money into the Troubled institution and to quote CNBC They want big Banks to purchase bonds From First Republic at above Market Rates for a total loss of a few billion Dollars or face roughly 30 billion Dollars in FDIC fees when First Republic Fails and this is because FDIC insurance Which is the insurance that guarantees Your money when you put it into a bank It’s paid for by member banks anywhere So they would actually stand to lose Less money by buying bonds above market Value than letting First Republic Bank Go bankrupt in the FDIC steps in to Ensure the funds and then they end up Having to pay for that when the FDIC Bailed out Silicon Valley Bank and Signature Bank they actually assessed a Special fee on member banks First Republic is estimating that a similar One-time fee for saving their bank would Cost this group of big Banks about 30 Billion dollars and it’s thus trying to Get them to buy the bank’s bonds so that FDIC insurance doesn’t have to kick in But that assumes though that any effort From the big Banks can actually have the Effect of saving First Republic the Initial round of 30 billion did not Reach that desired effect so that is the Situation and the next few days could be Really crucial not only for First Republic but for the rest of the banking
Sector because if First Republic goes Bankrupt there could be repercussions All around if you want some good Financial news though you can currently Still get up to 12 free stocks for Opening an account and depositing any Amount of money with the zero commission Brokerage app Weeble minimum value for This is 34 dollars but if you luck out And you get all the best stocks at Highest values it could be valued at Over thirty thousand dollars luck of the Draw what you get link for that deal is Below please subscribe if you’re new and We’ll see you next time bye