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 personal financial institution and wealth administration firm, right now mentioned 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 House Mortgage Financial institution, and skill to entry extra financing by JPMorgan Chase & Co. will increase, diversifies, and additional strengthens First Republic’s current liquidity profile. The overall accessible, unused liquidity to fund operations is now greater than $70 billion. This excludes extra liquidity First Republic is eligible to obtain below the brand new Financial institution Time period Funding Program introduced by the Federal Reserve right now.
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