First Republic Bank shares fell by a sharp 16.98 percent in after-hours trading on Friday following an announcement from the bank that it would suspend its common stock dividend.

Earlier on Thursday, the bank's share prices swung wildly, slumping over 35 percent but quickly rebounded after 11 of the largest banks in the U.S. poured in a $30 billion lifeline into First Republic Bank. Trading in the stock was also halted due to volatility, reported Yahoo! Finance.

Speaking to CGTN, Dong Shaopeng, executive deputy editor-in-chief of the Securities Daily, said that these injections from major U.S. banks could gradually ease operating pressures at First Republic Bank.

"But the liquidity injections will not be enough when risks erupt in the banking and financial system," Dong said in a note. "Once such a risk exists, more banks will need liquidity injections."

Dong said that the U.S. government should be thinking ahead for a consolidation strategy to get through the banking sector risks.

Meanwhile, Federal Reserve data showed that borrowings from banks across the U.S. from the central bank's discount window surged to $152.85 billion in the week ended March 15.

This was up from $4.58 billion a week before and hit a record high since the 2008 financial crisis, the Wall Street Journal reported.

Banks also borrowed $11.94 billion from the Fed's newly-launched emergency backstop Bank Term Funding Program, which it said aims to help assure that banks could meet the needs of all their depositors.

On Thursday, U.S. Treasury Secretary Janet Yellen warned in a congressional hearing that "no matter how strong capital and liquidity supervision are, if a bank has an overwhelming run, that is spurred by social media or whatever, so that it is seeing deposits flee at that pace, the bank can be put in danger of failing."