#firstrepublic — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #firstrepublic, aggregated by home.social.
-
New paper from #Yale and the #FederalReserve blames the 2023 banking crisis on (you guessed it) #crypto and Nerd Reich #VCs.
> "A clearer commonality between the six banks [that failed], the paper argues, is their exposure to risky depositor bases that other banks shied away from: #crypto firms and [tech] venture capitalists."
* American Banker: https://www.americanbanker.com/news/new-paper-hangs-march-2023-failures-on-business-model-risks
* Paper: https://www.chicagofed.org/publications/working-papers/2025/2025-04#SiliconValleyCalif #SVB #SBNY #SignatureBank #FirstRepublic #a16z #Broligarchs #NerdReich #uspol #banking #finreg #Silvergate
-
After the break, the People call #GaryFarro to the stand as the 3rd #witness.
#Farro was a banker at #FirstRepublic when #MichaelCohen was seeking to arrange the $130k #HushMoney payment to #StormyDaniels. Cohen, seeking the money, was contacted by Farro's asst.
Rebecca #Mangold will question Farro for prosecution. She’s been on the team several yrs, & typically sits w/Chris #Conroy, another prosecutor, behind the main table.
-
(1/2)
All I am saying is that if two small bank collapses (#SVB, #FirstRepublic, (1)) and a bigger one averted (#CreditSuisse (2)) on another continent can cause a ripple effect in the international banking system, the impact of a #SovereignDebt default by the world's leading economy would probably be comparable to the impact of a #meteor.(3)
Lawmakers don't...
-
Funny how "second biggest bank failure in US history" is a buried headline, as if it's just some technical detail only business insiders would be interested in. Nothing to see here, folks! Everything's going great!
-
Oh dear... the FT points out this morning that one thing clearly links the three US banks that recently failed:
#SiliconValleyBank, #Signature & #FirstRepublic were all audited by #KPMG... the suspicion is growing that actually they didn't understand the #banking sector as well as they claimed (KPMG, that is).
It won't be he first time one of the #BigFour have oversold their expertise, now will it!
-
[Commentary] The solution to regional banks' problems such as the JPMorgan-First Republic deal raises more questions and concerns about the U.S. financial system. https://www.japantimes.co.jp/opinion/2023/05/02/commentary/world-commentary/jpmorgan-first-republic-deal/?utm_content=buffer5a81a&utm_medium=social&utm_source=mastodon&utm_campaign=bffmstdn #opinion #commentary #banks #monetarypolicy #lending #jpmorgan #siliconvalleybank #firstrepublic
-
For some, First Republic’s sale represents the climax to a two-month saga that engulfed regional lenders. Others face anxieties over a persistent crisis, and fears over cascading problems in commercial real estate. https://www.japantimes.co.jp/news/2023/05/02/business/first-republic-bank-relief-worry/?utm_content=buffer5cdb0&utm_medium=social&utm_source=mastodon&utm_campaign=bffmstdn #news #business #banks #globaleconomy #firstrepublic
-
"...#SanFrancisco-based #FirstRepublic is the third mid-size #bank to fail in two months.
But #HSBC’s chief executive Noel #Quinn dismissed fears that a global #bankingcrisis is on the horizon and said he did not see any negative impact on the group from the failure of First Republic.
He added that there were “no nasty surprises” following its buyout of #SVB UK."
-
First-Republic-Bankenpleite - Vertrauenskrise im US-Finanzsektor
Mit der First Republic geht die dritte US-Bank in zwei Monaten pleite - womöglich nicht die letzte, sagt Wirtschaftsredakteurin Eva Bahner.
Mehrere Banken pleite - Vertrauenskrise im US-Finanzsektor -
Imma just gonna say that while my book, Money for Nothing does not directly connect to #FirstRepublic's collapse, it was a) a
@FT
notable book and b) does provide a deep historical dive/context for financial disasters. -
Mon 5/1 - Exit First Republic, Enter JPMorgan, Energizer and Walmart Battery Antitrust, DeSantis vs. Prosecutor, Alito Knows Leaker and Trump Wants Mistrial
In today's episode we have #JPMorgan acquiring #FirstRepublic Bank, #Energizer and #Walmart facing proposed #antitrust actions, #DeSantis has prosecutor problems, #Alito knows who leaked and #Trump wants a mistrial.
https://www.minimumcomp.com/p/mon-51-exit-first-republic-enter
-
Today the US government took over a failing bank and sold it to our largest bank. In order to sell it, it had to use $13,000,000,000 taxpayer dollars to split insurance on uninsured funds. Once again, we socialized losses of banks whose gains are private. Once again, we were told it was far better than the alternative.
So, what is the alternative? Well, the alternative is to unmask the system as a complete scam that redistributes wealth away from those who need it most. The maneuver was a slight adjustment to a house of cards.
-
Well that deregulation of midsized #banks passed by #Republicans under Trump sure is working out well. #FirstRepublic https://www.commondreams.org/news/first-republic-bank-deregulation-too-big-to-fail
-
The failure of #FirstRepublic is just the latest case where bank executives had every incentive to value short-term profits instead of risk management.
Current proposals to clawback CEO pay when a bank fails don't go far enough, according to three economists
https://theconversation.com/recent-banking-crises-are-rooted-in-a-system-that-rewards-excessive-risk-taking-as-first-republics-failure-shows-204255
#News #economics #banking #CEOPay -
After SVB failed, the Fed promised a review and a public report on what went wrong. They released that report Friday, and it said SVB messed up but also put a surprising amount of blame on the Fed.
It sounds like these failures are mostly things the Fed can fix without Congress.
That doesn't excuse Congress' manufacturing of financial crises, especially the debt limit.
PDF of report:
https://www.federalreserve.gov/publications/files/svb-review-20230428.pdf
Discussion:
https://www.marketplace.org/shows/marketplace/short-sellers-have-made-bank-betting-on-first-republics-free-fall/
--
#SVB #fed #finance #economics #FirstRepublic -
"The Federal Deposit Insurance Corporation said early Monday that First Republic Bank’s 84 branches in eight states will reopen as branches of JPMorgan Chase Bank and depositors will have full access to all of their deposits.
"Before Silicon Valley Bank failed, First Republic had a banking franchise that was the envy of most of the industry. Its clients — mostly the rich and powerful — rarely defaulted on their loans."
https://apnews.com/article/first-republic-bank-silicon-valley-fdic-5ab48702b7136d42f73ac13e0a20955d
--
#fed #FDIC #SVB #FirstRepublic #JPMorgan #finance -
First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase
As part of its deal, 84 First Republic branches in eight states will reopen as JPMorgan branches on Monday. https://www.nytimes.com/2023/05/01/business/first-republic-bank-jpmorgan.html?smid=nytcore-ios-share&referringSource=articleShare #firstRepublic -
If I was more of a conspiracy theorist I would suggest that the big banks are going around sparking bank runs so they can buy up small banks and acquire their customers. The reality is that every US bank is just a 10% draw down on deposits away from collapsing and it really doesn't take much for that to happen when a few large whales remove their deposits that are far above FDIC insurance levels.
-
US regulator asks banks including JPMorgan and PNC to bid for #FirstRepublic
#banking #finance
https://www.ft.com/content/ee1eb0c2-4c4d-47b5-9e55-1cfdbad1d51b -
U.S. regulator set to take over First Republic
#Reuters #firstRepublic https://www.reuters.com/business/finance/us-regulator-set-take-over-first-republic-source-2023-04-28/ -
Apparently "investors" are taking their money out of smaller and mid-sized banks and depositing it with the big boys.
Despite JPMorgan, CitiGroup, Bank of America and Goldman Sachs bunging in $30bn, First Republic was forced to borrow $109bn from the Fed to meet withdrawal demands in just one night. ONE NIGHT!
-
#SVB #SVBFail #CreditSuisse #FirstRepublic
First Republic, which continues to say that it has enough liquidity, is being advised by JP Morgan on "strategic alternatives" 👇🏾
Some analysts believe that First Republic Bank must raise funds or sell itself because it would have suffered, according to them, similar losses to Silicon Valley Bank.
