Sharp sell-off in First Republic shares causes alarm in Washington

First Republic Bank's shares continue to plummet as regulators and financiers scramble to stabilise the lender which is struggling to come up with a viable solution.

April 25, 2023 . 8:16 PM

1 min read

Shares of First Republic continue to plunge, falling by 50% after customers withdrew $100bn of deposits during last month’s turmoil.
First Republic is pursuing “strategic options” to stabilise the bank but is struggling to come up with a viable solution.
US government officials and regulators are in contact with First Republic, considering rescuing the lender or offering a government guarantee for all deposits.
Despite the sharp slide in First Republic’s shares, investors are more relaxed for now than they were when Silicon Valley Bank collapsed.
Potential acquirers of First Republic's assets have cited concerns over taking on too much risk.