Major U.S. banks inject $30b to rescue First Republic Bank

Several large U.S. banks injected $30 billion into First Republic Bank on Thursday, swooping in to rescue the lender caught up in a widening crisis triggered by the collapse of two mid-size U.S. lenders over the past week.

Some of the biggest U.S. banking names, including JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Goldman Sachs and Morgan Stanley were involved in the rescue, according to a joint statement.

Source(s): Reuters

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