Some of the biggest US banking names including JPMorgan, Citigroup, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley prop up support for First Republic Bank after the regional lender's stock plunge.
, and Morgan Stanley were involved in the rescue, according to a statement from the banks.
US regulators said the show of support was most welcome, and showed the resilience of the banking system. Smaller banks also rebounded from the recent sell-off, with Fifth Third Bancorp, PNC Financial Services Group, and KeyCorp each gaining more than 4%.the first major global bank to take up an emergency lifeline since the 2008 financial crisis
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