- US banks deposit $30bn into First Republic Bank to restore confidence.
- Deposit follows a $70bn credit line and borrowing from the Fed.
- Consortium is now effectively creditors.
- Banks did not buy an equity stake or purchase First Republic outright.
- Regional banks must survive as standalone entities.
First Republic: Wall Street deposits are smart attempt to allay panic
US banks deposit $30bn into First Republic Bank to restore confidence amidst liquidity concerns. Consortium now effectively creditors. Banks did not buy equity.