{"id":1887498,"date":"2023-03-15T11:15:22","date_gmt":"2023-03-15T15:15:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-first-republic-banks-rating-slashed-to-junk-status\/"},"modified":"2023-03-15T11:21:48","modified_gmt":"2023-03-15T15:21:48","slug":"svb-collapse-first-republic-banks-rating-slashed-to-junk-status","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-first-republic-banks-rating-slashed-to-junk-status\/","title":{"rendered":"SVB collapse: First Republic Bank\u2019s rating slashed to junk status"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsvb-collapse-first-republic-banks-rating-slashed-to-junk-status%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1887498&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78830000\" class=\"brid\" style=\"width:16; height:9;\" itemprop=\"video\" itemscope itemtype=\"http:\/\/schema.org\/VideoObject\">                <meta itemprop=\"name\" content=\"SVB collapse: Three banks that could show if market has shaken off 'contagion'\">               <meta itemprop=\"description\" content=\"Regional bank stocks reported some recovery Tuesday after sharp declines were incurred over the weekend due to the collapse of Silicon Valley Bank. Key regional bank stocks, including First Republic, KeyCorp, and Fifth Third Bancorp, all saw increases during early market trading despite recording their worst drops in more than three years on Monday. First Republic was up 20% as of Tuesday morning, while KeyCorp reported a 12% increase.\">               <meta itemprop=\"duration\" content=\"PT1M35S\">               <meta itemprop=\"uploadDate\" content=\"2023-03-14 21:38:45\">               <meta itemprop=\"thumbnailURL\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/snapshot\/1262577_th_1678829992.jpg\">               <meta itemprop=\"contentUrl\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/sd\/1262577.mp4\">              <\/div>\n<p>               <script type=\"text\/javascript\"> var _bp=_bp||[]; _bp.push({ \"div\": \"Brid_78830000\", \"obj\": {\"id\":\"27789\",\"width\":\"16\",\"height\":\"9\",\"video\":\"1262577\"} }); <\/script>               <script type=\"text\/javascript\" async src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script>              <\/div>\n<\/p><\/div>\n<p><span class=\"ArticlePage-articleBody-firstLetter\">F<\/span>The value of irst Republic Bank has dropped after Standard and Poors downgraded its rating from junk to junk status on Wednesday. This is amid other concerns about the bank sector following the collapse. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/silicon-valley-bank\" target=\"_blank\" rel=\"noopener\">Silicon Valley Bank<\/a>. <\/p>\n<p>The agency&#8217;s credit rating moved the long-term issuer of the San Francisco-based bank <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/credit\" target=\"_blank\" rel=\"noopener\">Credit<\/a> From A-, rating to BB+ According to the group, <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/bank\" target=\"_blank\" rel=\"noopener\">Bank<\/a> There is a greater risk that depositors will withdraw their money even though the government took action to stop a bank run this week. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/dow-jones-futures-fall-international-bank-shares-decline\" target=\"_blank\" rel=\"noopener\">DOW JONES FUTURES FALL 600 POTS FOLLOWING INTERNATIONAL BOBB SHARES&#8217; SHEAR DECLINE<\/a><\/b> <\/p>\n<p>&#8220;We believe that First Republic&#8217;s deposit base is more concentrated than most large U.S. regional banks, which presents heightened funding risks in the current environment,&#8221; S&#038;P <a class=\"Link\" href=\"https:\/\/mobile.twitter.com\/kaileyleinz\/status\/1635996708751527936\" target=\"_blank\" rel=\"noopener\"><\/a>. <\/p>\n<p>The bank is only one of many regional banks that has fallen prey to the uncertainty and falling stock prices after the collapse of Silicon Valley Bank. First Republic stock fell fast Wednesday morning, despite a turbulent week and the credit downgrade. <\/p>\n<p>Within an hour of the opening bell, shares of the bank fell by 15% as investors fled the stock in fear that First Bank would be next. <\/p>\n<p>On Wednesday, the megabank Credit Suisse in Switzerland was also experiencing a slump. This is because Saudi National Bank&#8217;s chairman, which is the largest shareholder of the bank, has announced that it will not be increasing its stake in the bank due to regulatory constraints. <\/p>\n<p>Credit Suisse&#8217;s stock dropped more than 24% in the fracas. <\/p>\n<p>Credit Suisse Chairman Axel Lehmann said Wednesday that government assistance is available to him &#8220;isn&#8217;t a topic.&#8221; <\/p>\n<p>&#8220;We have strong capital ratios, a strong balance sheet,&#8221; Lehmann stated. &#8220;We already took the medicine,&#8221; He said this in reference to restructuring. <\/p>\n<p>Wall Street is experiencing turmoil after Tuesday&#8217;s stocks close. However, investors seemed to be calming down following the failures by SVB (crypto lender Signature Bank) and other financial institutions. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\">CLICK HERE FOR MORE INFORMATION FROM THE WASHINGTON XAMINER<\/a><\/b> <\/p>\n<p>The Chicago Board Options Exchange Volatility Index was a good indicator of fear returning. It is also known as VIX. &#8220;fear index.&#8221; <\/p>\n<div id=\"dsk-banner-ad-g\"><\/div>\n<p>The VIX rose nearly 14% Wednesday morning, indicating more market anxiety.<\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read More from&#8221; <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/first-republic-bank-credit-junk-status\">SVB collapse: First Republic Bank&#8217;s credit rating is cut to junk status<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>First Republic Bank is hemorrhaging value after Standard and Poors cut its rating to junk status on Wednesday amid broader fears about the banking sector in the wake of the collapse of Silicon Valley Bank. The credit rating agency moved the San Francisco-based bank\u2019s long-term issuer credit rating to BB+ from A-. The group said<\/p>\n","protected":false},"author":1,"featured_media":1897231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[18200,8961,7385,8809,9116,8034,5026,21356],"class_list":["post-1887498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-junk","tag-banks","tag-collapse","tag-rating","tag-republic","tag-slashed","tag-status","tag-svb"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1887498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1887498"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1887498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897231"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1887498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1887498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1887498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}