The Breakdown cover image

First Republic's Failure Shows the Limits of Fed Bank Programs

The Breakdown

00:00

Introduction

On Friday, we discussed how First Republic Bank was a zombie. Well friends, the undead have been put down. Starting the resolution of First Republic Bank. The underlying assumption behind discount window and other liquidity provisions is that deposits eventually return. But if deposits don't return, the logic fails.

Play episode from 00:00
Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app