First Republic Rescue May Rely on US Backing to Reach a Deal
- Talks have floated a variety of measures and are continuing
- Aim is to make bank attractive to potential investors, buyer
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Wall Street leaders and US officials discussing an intervention at First Republic Bank are exploring the possibility of government backing to encourage a deal that would shore up the lender, people with knowledge of the situation said. The shares dropped Wednesday morning.
The group has floated a variety of measures to make the company more attractive to potential investors or a buyer, part of an effort to ensure there isn’t another US bank failure, the people said, asking not to be named describing confidential talks.