The Latest Breaking News from First Republic Bank

Growing concerns about the safety of bank deposits have prompted investors to approach community and regional banks with caution

Bill Ackman said he would be “would be surprised if deposit outflows don’t accelerate effective immediately.”

The recent collapse of Silicon Valley Bank (SVB) – the failure of the biggest US lender since the 2008 global financial crisis – has created waves across the global banking system. The subsequent collapse of another US institution, Signature Bank, the US$30 billion (£24.5 billion) lifeline given to First Republic…

JPMorgan's 2008 rescues ended up costing the bank $19 billion.

Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.

Efforts to reassure the public that First Republic is safe have so far been unsuccessful as bank's shares plunge.

Billionaire investor Bill Ackman said Friday that Bank of America will buy Signature Bank on Monday as other banks face peril

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

Analysts say the worldwide banking system is facing a crisis of confidence, with the international banking sector entering an uncertain period in the coming days.

RECAP: Asian equities advanced yesterday after a rescue package for First Republic Bank fuelled a rebound in US shares. Even so, the MSCI gauge of Asian shares recorded a second weekly loss after the recent turbulence in the global banking sector.

In late January, First Republic Bank's CEO wrote to U.S. regulators saying his bank did not pose signficant risk to the U.S.'s financial stability.