Large U.S. banks come to rescue of First Republic

America’s Big Banks Come to First Republic’s Rescue – CBS News

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Eleven large banks have agreed to provide $30 billion to California-based First Republic Bank, which has been struggling following last week’s collapse of Silicon Valley Bank. This comes as Treasury Secretary Janet Yellen appeared before the Senate Finance Committee and tried to alleviate concerns regarding the viability of the U.S. banking system. Scott MacFarlane has the latest.

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