US authorities said a deal by the nation’s biggest lenders to deposit $30 billion with First Republic Bank demonstrated the resilience of the nation’s banking system, seeking to reinforce a message that the sector is on firm footing and united in its efforts.
“This show of support by a group of large banks is most welcome,” the Federal Reserve, Treasury, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said in a joint statement Thursday.
