US Banks on Bumpy Path as First Republic’s Troubles Persist
- The future of SVB, First Republic remains up in the air
- FDIC got a deal for one failed lender: Signature Bank
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Just weeks ago, they were bit players in the giant US banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.
At the last tally in the rapidly evolving turmoil, one of the two collapsed lenders remained for sale while the fate of a third bank looked increasingly bleak. Billionaire investor Buffett was in touch with the Biden administration about potentially providing aid, while smaller banks and lawmakers demanded that the government offer more protection for customer deposits.