17, Mar 2023
Hear what weakened First Republic Bank and triggered $30B bailout
First Republic Bank, facing a crisis of confidence from investors and customers, is set to receive a $30 billion lifeline from a group of America’s largest banks. The bank’s problems underscored continued worries about the banking system in the aftermath of the collapse of Silicon Valley Bank and Signature Bank. CNN’s Christine Romans explains how the cash infusion is meant to head off a domino effect of more bank failures and demonstrate the industry still has a solid foundation.