As of April 21, 2023, the Bank had $45.1 billion of cash and cash equivalents and unused available borrowing capacity, representing more than two times our estimated uninsured deposits, excluding
the $30 billion of deposits made by the large U.S. banks.
First Republic had the capital to continue, the receivership was unnecessary. The media needed to stop hitting it over and over again.
The banking system can't handle this level of distrust, and in the long run, FRC's collapse will dissuade investment in regional banks and banks that are under media pressure. This was a huge unforced error.
How do you square that with it having been First Republic that asked for the bailout? If they actually had the cash, or even the assets, they wouldn't have went running to the feds.
The constant media attention after the earnings report caused another bank run that killed the bank.
When the shares were hitting $5 and lower, the media were reporting on it near constantly, especially WSJ, who reported negative information about FRC every time it looked to be recovering.
Media casualty. Never should have gone this way, but the media just had to keep hitting it over and over again.
While I'm sure the media didn't help it much, I think its problems were far more than just that
First Republic had the capital to continue, the receivership was unnecessary. The media needed to stop hitting it over and over again.
The banking system can't handle this level of distrust, and in the long run, FRC's collapse will dissuade investment in regional banks and banks that are under media pressure. This was a huge unforced error.
How do you square that with it having been First Republic that asked for the bailout? If they actually had the cash, or even the assets, they wouldn't have went running to the feds.
The constant media attention after the earnings report caused another bank run that killed the bank.
When the shares were hitting $5 and lower, the media were reporting on it near constantly, especially WSJ, who reported negative information about FRC every time it looked to be recovering.