The Republican Bank got a $30 billion deposit from major US banks last week. Yesterday, the San Francisco-based lender saw its stock plunge 47%. The FT's bookmasters explains why the big deposit didn't stabilize the bank.
The IMF’s board has finally backed a $3bn bailout for Sri Lanka to help relieve a ‘catastrophic’ economic and social crisis, shares in First Republic Bank tumbled 47 per cent on Monday despite a $30bn rescue deposit last week, and Credit Suisse bondholders were in uproar after the rescue deal by rival UBS wiped out $17bn of the failed Swiss bank’s bonds.
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