Friday, March 17, 2023 11:54:00 AM
The Deal just came out and is Done at 4:00 PM The Banks will pay us F&R.
"The largest banks, including JPMorgan ([JPM](https://seekingalpha.com/symbol/JPM...)), Bank of America ([BAC](https://seekingalpha.com/symbol/BAC...)), Citi ([C](https://seekingalpha.com/symbol/C...)) and Wells Fargo ([WFC](https://seekingalpha.com/symbol/WFC...)) will contribute $5 billion of deposits each, while Goldman Sachs ([GS](https://seekingalpha.com/symbol/GS...)) and Morgan Stanley will provide $2.5 billion each, according to multiple media reports, which cited a statement on Thursday. PNC Financial ([PNC]s)) will each contribute $1 billion."
4 x 5B 20B
2 x 2.5B 5B
5 x 1B 5B
Total 35 B
First Republic (NYSE:FRC) rose 11% after the nation's biggest banks agreed to deposit about $30 billion with the troubled lender.
The largest banks, including JPMorgan (JPM), Bank of America (BAC), Citi (C) and Wells Fargo (WFC) will contribute $5 billion of deposits each, while Goldman Sachs (GS) and Morgan Stanley will provide $2.5 billion each, according to multiple media reports, which cited a statement on Thursday. PNC Financial (PNC), Bank of New York Mellon (BK), Truist (TFC), U.S. Bancorp (USB) and State Street (STT) will each contribute $1 billion.
“This action by America’s largest banks reflects their confidence in First Republic and in banks of all sizes,” according to the statement.
The Most Royal Dude
Lets Go Fishing
The Most Royal Dude
Lets Go Fishing
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