https://www.wsj.com/articles/first-republic-gets-additional-funding-from-fed-jpmorgan-d11e68ca
SAN FRANCISCO First Republic Financial institution (NYSE:FRC), a number one non-public financial institution and wealth administration firm, right now stated it has additional enhanced and diversified its monetary place by entry to extra liquidity from the Federal Reserve Financial institution and JPMorgan Chase & Co.
The extra borrowing capability from the Federal Reserve, continued entry to funding by the Federal Dwelling Mortgage Financial institution, and talent to entry extra financing by JPMorgan Chase & Co. will increase, diversifies, and additional strengthens First Republic’s present liquidity profile. The overall out there, unused liquidity to fund operations is now greater than $70 billion. This excludes extra liquidity First Republic is eligible to obtain underneath the brand new Financial institution Time period Funding Program introduced by the Federal Reserve right now.
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