What the banking turmoil means for investors’ portfolios
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First Republic Bank in the US
First Republic bank was also swept into turbulence. 11 banks, including Goldman Sachs, placed a collective $30 billion in deposits of their own funds to help with the bank's liquidity issues. So this, in my mind, was a pretty creative solution by the private markets to the deposit outflows that First Republic was seeing. But it does buy First Republic time to really pursue other strategic options, which could include shrinking their balance sheet or looking to sell themselves to an acquirer.
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