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First Republic, Western Alliance seek to calm contagion worries from SVB meltdown

U.S. lenders First Republic Bank and Western Alliance said their liquidity and deposits remain strong, after Silicon Valley Bank became the first FDIC-insured institution to fail this year.

1 min read
  • U.S. lenders First Republic Bank (FRC.N) and Western Alliance (WAL.N) said their liquidity and deposits remain strong.
  • Silicon Valley Bank is the first FDIC-insured institution to fail this year.
  • Western Alliance reported total deposits of $61.5 billion and warned of a moderate decline from these levels by the end of the quarter due to seasonal and monthly activity.
First Republic, Western Alliance seek to calm contagion worries from SVB meltdown
U.S. lenders First Republic Bank and Western Alliance said on Friday their liquidity and deposits remained strong, aiming to calm investors worried of a spill-over of risks from troubled startup focused-bank SVB Financial Group .
Reuters

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