Washington (US) – After Silicon Valley Bank and Signature Bank, the First Republic Bank in the US is about to go bankrupt. First Republic Bank shares fell by 61.83%.
अब First Republic Bank पर लटकने वाला है ताला, हफ्ते भर के अंदर अमेरिका में तीसरा बैंक कंगाल! https://t.co/K5RooIq9g3
— AajTak (@aajtak) March 15, 2023
This led many customers to exit the Bank and put their money elsewhere, creating a problem for First Republic. It has to borrow money or sell assets to pay customers their deposits in cash. The First Republic’s problems underscored continued worries about the banking system in the USA.
When the Silicon and Signature Banks had reached a similar situation, they were shut down. Moody’s Investors Service placed First Republic Bank and five other US lenders on review for downgrade. A similar situation like the 2008 inflation is about to be created again in the USA. (USA does not reveal the factual situation of its systems and yet wants to dictate terms to others ! – Editor)
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