First Republic Reaches Rescue Deal With Other Banks

First Republic Reaches Rescue Deal With Other Banks
The lender will receive $30 billion in deposits from other banks in an effort to restore confidence in the banking system. Earlier, Treasury Secretary Janet Yellen told a Senate panel that the banking system “remains sound.” 

Related: Low Rates Were Meant to Last. Without Them, Finance Is In for a Rough Ride. - The New York Times (nytimes.com)