Now you have "bank welfare"
At this rate we gonna be California soon
A group of financial institutions has agreed to deposit $30 billion in First Republic
in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon.
Bank of America
, Wells Fargo
, Citigroup
and JPMorgan Chase
will contribute about $5 billion apiece, while Goldman Sachs
and Morgan Stanley
will deposit around $2.5 billion, the banks said in a news release. Truist
, PNC
, U.S. Bancorp
, State Street
and Bank of New York Mellon
will deposit about $1 billion each.