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First Republic Bank rescued by major US lenders

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First Republic Bank has been saved from potential collapse by a group of major U.S. lenders.

The company is set to receive $30 billion from banks including Bank of America and JPMorgan Chase.

“Some optimism has returned to markets over the last 24 hours, with bank stocks stabilizing on both sides of the Atlantic,” Deutsche Bank analysts said.

Read more from CNN Business.


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