🇺🇸 US President Biden called for officials to be given greater powers to hold bank executives to account for banking failures DavidConnett1 reports:
Founded in 1985, First Republic had $212bn in assets and $176.4bn in deposits at the end of 2022, according to its annual report.
As fears about the impact on confidence in the wider banking sector grew, it was reported that global regulators held talks on Friday to discuss ways to calm the markets. In the latest sign of its mounting troubles, at least four major banks including Societe Generale and Deutsche Bank are said to have put in place restrictions on their trades involving the 167-year-old Swiss bank.
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