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First Republic collapse sparks regional bank shares sell-off - The Jerusalem Post

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Shares of several regional lenders fell on Monday after the collapse of First Republic Bank FRC.N, the third major casualty of the biggest crisis to hit the US banking sector since 2008.The crisis unraveled after the closure of Silicon Valley Bank and Signature Bank in March that led to deposit outflows from smaller lenders and fueled fears of similar liquidity crunches at peers.The KBW Regional Banking Index .KRX was down 1.9% on Monday, while shares of Citizens Financial Group CFG.N, PNC Financial Services Group PNC.N, Truist Financial Corp TFC.N and U.S. Bancorp USB.N fell between 1.2% and 7%. A deal was announced earlier on Monday that allows for an orderly failure of First Republic.

Jerusalem Post     May 01, 2023