{"id":9876,"date":"2023-04-12T10:39:23","date_gmt":"2023-04-12T08:39:23","guid":{"rendered":"https:\/\/investmentbell.com\/?p=9876"},"modified":"2023-08-30T13:50:31","modified_gmt":"2023-08-30T11:50:31","slug":"us-banks-to-set-aside-reserves-after-shoring-up-first-republic-sources","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/hi\/news\/market-overview\/us-banks-to-set-aside-reserves-after-shoring-up-first-republic-sources\/","title":{"rendered":"US banks to set aside reserves after shoring up First Republic -sources"},"content":{"rendered":"<p>(Reuters) -Banks that contributed the bulk of $30 billion in deposits to\u00a0First Republic Bank\u00a0(NYSE:FRC) plan to set aside about $100 million each in first-quarter earnings in case of potential losses, two sources with direct knowledge of the matter said.<\/p>\n\n\n\n<p>JPMorgan Chase &amp; Co (NYSE:JPM),\u00a0Wells Fargo\u00a0(NYSE:WFC) &amp; Co,\u00a0Citigroup\u00a0Inc (NYSE:C) and Bank of America Corp (NYSE:BAC) deposited $5 billion apiece in uninsured deposits into First Republic in March to shore up confidence in the industry.<\/p>\n\n\n\n<p>The sources declined to be identified because of the sensitivity of the situation. The banks declined to comment.<\/p>\n\n\n\n<p>The four largest U.S. banks were among a group of 11 lenders that bolstered First Republic after its shares plunged during the crisis triggered by the collapse of Silicon Valley Bank and\u00a0Signature Bank\u00a0(OTC:SBNY).<\/p>\n\n\n\n<p>Lenders typically earmark rainy day funds to prepare for soured loans. Major U.S. banks will begin reporting first-quarter earnings from Friday.<\/p>\n\n\n\n<p>News of the planned provisions was reported earlier by Bloomberg.<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost9876\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost9876').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Banks that contributed the bulk of $30 billion in deposits to\u00a0First Republic Bank\u00a0(NYSE:FRC) plan to set aside about $100 million each in first-quarter earnings in case of potential losses, two sources with direct knowledge of the matter said. JPMorgan Chase &amp; Co (NYSE:JPM),\u00a0Wells Fargo\u00a0(NYSE:WFC) &amp; Co,\u00a0Citigroup\u00a0Inc (NYSE:C) and Bank of America Corp (NYSE:BAC) deposited [&hellip;]<\/p>","protected":false},"author":13,"featured_media":9877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":{"0":"post-9876","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-overview-news"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/posts\/9876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/comments?post=9876"}],"version-history":[{"count":1,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/posts\/9876\/revisions"}],"predecessor-version":[{"id":145746,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/posts\/9876\/revisions\/145746"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/media\/9877"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/media?parent=9876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/categories?post=9876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/tags?post=9876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}