First Republic drops 60%, leads decline in bank stocks despite government ’s backstop of SVB

The Federal Reserve created a new Bank Term Funding Program that will offer loans for up to a year to banks in return for high quality collateral like Treasurys. The central bank also eased conditions at its discount window. First Republic said Sunday it had received additional liquidity from the…#federalreserve #treasurys #firstrepublic #jpmorganchase #jimherbert #mikeroffler #spdrspregional #svbfinancial #svb #fhlb

Source: Reuters: Health - March 13, 2023 Category: Consumer Health News Source Type: news