A number of banks together with JPMorgan Chase and Morgan Stanley are in talks with First Republic Financial institution for a possible deal, the Wall Avenue Journal reported on Thursday, citing folks accustomed to the matter.
The deal might contain capital infusion to bolster the troubled lender after the collapse of SVB Monetary final week triggered fears of a contagion, the report mentioned, including {that a} full takeover can also be a risk, although much less sure.
Bloomberg reported First Republic is set to obtain $30 billion in deposits in a rescue deal to be introduced as quickly as Thursday.
First Republic shares have been up 22%, erasing earlier losses.
Different huge banks concerned in deal talks embody Citigroup, Financial institution of America, Wells Fargo and Goldman Sachs, based on the report.
JPMorgan didn’t instantly reply to a Reuters request for remark, whereas Morgan Stanley and First Republic declined to remark.
