WAL - First Republic Bank starts the day in green amid possibility of government backing

2023-03-22 05:25:24 ET

• Amid focus remaining on talks aimed at shoring up confidence in the troubled midsize lender, First Republic Bank ( NYSE: FRC ) is trading 4.4% higher in premarket trade.
• Bloomberg cites people close to the matter that Wall Street leaders and U.S. officials who are discussing an intervention at First Republic are also looking at the possibility of government backing to encourage a deal.
• Awaiting a key interest rate decision from the Federal Reserve due later in the day, other regional banks like Western Alliance ( WAL ) and Huntington Bancshares ( HBAN ) saw 1.3% and 1.3% gains in premarket.
• U.S. officials are looking at ways to insure all bank deposits in order to stave off a potential financial crisis, Bloomberg adds.

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