{"id":1919176,"date":"2023-04-25T19:56:51","date_gmt":"2023-04-25T23:56:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/more-bank-jitters-as-first-republic-probes-asset-sales-bad-bank-options-source\/"},"modified":"2023-04-25T19:58:00","modified_gmt":"2023-04-25T23:58:00","slug":"more-bank-jitters-as-first-republic-probes-asset-sales-bad-bank-options-source","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/more-bank-jitters-as-first-republic-probes-asset-sales-bad-bank-options-source\/","title":{"rendered":"More bank jitters as First Republic probes asset sales, \u2018bad bank\u2019 options -source"},"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\">26<\/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%2Fmore-bank-jitters-as-first-republic-probes-asset-sales-bad-bank-options-source%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=1919176&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--><div class=\"entry-content\">\n<p>Are First Republic Bank&#8217;s options dwindling? According to a source familiar with the matter, the bank is facing tough decisions after a significant deposit flight during last month&#8217;s banking crisis. The creation of a &#8216;bad bank&#8217; or asset sales are possibilities, but both come with challenges and costs that could be detrimental to shareholders. Christopher Wolfe, head of North American banks at Fitch Ratings, warns that &#8220;there&#8217;s going to be some big writedowns that would have to be taken against some of the assets given the rate cycle.&#8221; <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>First Republic reported a more than $100 billion plunge in deposits in the quarter, causing shares to slide to a record low, down more than 40%. The bank is now exploring all options to quickly strengthen its position, including an asset sale of up to $100 billion. However, this comes with the risk of significant writedowns and losses. <\/p>\n<p>Despite the challenges, retail investors are taking notice. First Republic was the most ordered stock on Fidelity&#8217;s platform on Monday, ending the day at a 12.2% gain. However, about 36% of the bank&#8217;s free float of shares were short, according to FIS Astec Analytics. <\/p>\n<p>Deposit flight has been at the center of investor concerns as clients move capital toward money market funds that bring in higher returns or larger &#8216;too-big-to-fail&#8217; institutions. <\/p>\n<p>As the banking sector continues to face upheaval, analysts expect challenges to extend through the year. First Republic&#8217;s reported deposit outflows were much worse than Wall Street estimates and at a &#8220;level that could prove very hard to come back from,&#8221; according to analysts at Wells Fargo. <\/p>\n<p>It remains to be seen what options First Republic will ultimately pursue, but one thing is clear: the road ahead will be difficult and costly. <\/p>\n<p> (Reporting by Manya Saini in Bengaluru and Lance Tupper and Nupur Anand in New York; Additional reporting by Siddarth S; Editing by Megan Davies, Dhanya Ann Thoppil, Krishna Chandra Eluri, Daniel Wallis and Josie Kao)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/more-bank-jitters-as\/attachment\/file-photo-traders-work-on-the-floor-of-the-nyse-10\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Arizona Congressman Andy Biggs says he\u2019s skeptical about Joe Biden\u2019s re-election plans and says he will not be voting for the GOP\u2019s plan to raise the debt ceiling while cutting government spending<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>One America News extends an offer to Tucker Carlson after he and Fox News part ways.\u00a0<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The book ban battle rages on as some parents say books with pornographic or inappropriate content should be removed from schools.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>President Joe Biden has announced his re-election campaign while his approval rating slips to 40 percent. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Jane Lanhee Lee OAKLAND, California (Reuters) \u2013 Terra Quantum, a quantum computer hardware and software startup based in Germany and Switzerland,\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>TOKYO (Reuters) \u2013 Japanese Prime Minister Fumio Kishida said on Tuesday the country supports the development of industrial uses of generative artificial\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Hyunsu Yim (Reuters) -Netflix Inc said on Tuesday it will invest $2.5 billion in South Korea over the next four years\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BEIJING (Reuters) \u2013 China\u2019s financial hub of Shanghai will promote investments in specialized technology including chip design, circuitry and artificial intelligence as\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Manya Saini, David French and Saeed Azhar (Reuters) -First Republic Bank faces dwindling and tough options to turn around its business with the creation of a \u2018bad bank\u2019 or asset sales possibilities, a source familiar with the matter said, after the lender showed the extent of deposit flight during last month\u2019s banking crisis. First<\/p>\n","protected":false},"author":66,"featured_media":1919177,"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":[542],"tags":[13343,7086,5373,25153,7744,11243,9116,5219,9993],"class_list":["post-1919176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-asset","tag-bad","tag-bank","tag-jitters","tag-options","tag-probes","tag-republic","tag-sales","tag-source"],"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\/1919176","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\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1919176"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1919177"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1919176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1919176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1919176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}