First Republic most likely headed for FDIC receivership - CNBC
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FILE PHOTO: A sign reads ?FDIC Insured? on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder/File Photo/File Photo
(Reuters) - First Republic Bank is most likely headed for Federal Deposit Insurance Corp (FDIC) receivership, CNBC reported on Friday citing sources.
Shares of First Republic were down 19%.
The bank did not immediately respond to a Reuters request for comment.
Earlier on Friday, Reuters reported U.S. officials are coordinating urgent talks to rescue the bank.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
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