First Republic In Search Of A Lifeline And The Nouveau Financial Riche
Bloomberg Daybreak: Europe Edition
00:00
First Republic in the United States Is Considering Selling Assets to Shore Up the Bank's Finances
Chinese state media are reporting that first republic in the United States is exploring selling assets. The bank has been building a lot of business by setting mortgages to a very desirable clientele. But interest rates have turned and those mortgages are no longer as valuable. In fact, the bank might be losing money because it has to pay some customers for deposits.
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