Troubled US regional bank First Republic is reportedly in rescue talks with major US financial institutions as a banking crisis unfolds on both sides of the Atlantic.
The largest US bank, JPMorgan Chase, along with Morgan Stanley, Citigroup and others, are in discussions to deposit $20 billion with ailing First Republic, according to a CNBC report citing sources.
A rescue deal could be announced as soon as today, though the details of the plan are fluid and nothing is yet