{"id":6929,"date":"2023-04-12T03:20:21","date_gmt":"2023-04-12T03:20:21","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/u-s-banks-that-shored\/"},"modified":"2023-04-12T03:27:53","modified_gmt":"2023-04-12T03:27:53","slug":"us-banks-to-set","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/us-banks-to-set\/","title":{"rendered":"US banks to set aside reserves after shoring up First Republic -sources"},"content":{"rendered":"<p>By Nupur Anand and Lananh Nguyen<\/p>\n<p>(Reuters) -Banks that contributed the bulk of $30 billion in deposits to First Republic Bank plan to set aside about $100 million each in first-quarter earnings in case of potential losses, two sources with direct knowledge of the matter said.<\/p>\n<p>JPMorgan Chase &amp; Co, Wells Fargo &amp; Co, Citigroup Inc and Bank of America Corp deposited $5 billion apiece in uninsured deposits into First Republic in March to shore up confidence in the industry.<\/p>\n<p>The sources declined to be identified because of the sensitivity of the situation. The banks declined to comment.<\/p>\n<p>The four largest U.S. banks were among a group of 11 lenders that bolstered First Republic after its shares plunged during the crisis triggered by the collapse of Silicon Valley Bank and Signature Bank.<\/p>\n<p>Lenders typically earmark rainy day funds to prepare for soured loans. Major U.S. banks will begin reporting first-quarter earnings from Friday.<\/p>\n<p>News of the planned provisions was reported earlier by Bloomberg.<\/p>\n<p> (Reporting by Nupur Anand and Lananh Nguyen in New York; Additional reporting by Rahat Sandhu in Bengaluru; Editing by Rashmi Aich and Edwina Gibbs)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/us-banks-to-set\/first-republic-bank-branch-in-midtown-manhattan-in-new-york-2\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3B00U-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3B00U-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Nupur Anand and Lananh Nguyen (Reuters) -Banks that contributed the bulk of $30 billion in deposits to First Republic Bank plan to set aside about $100 million each in first-quarter earnings in case of potential losses, two sources with direct knowledge of the matter said. JPMorgan Chase &amp; Co, Wells Fargo &amp; Co, Citigroup [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":6930,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-6929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3B00U-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=6929"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6929\/revisions"}],"predecessor-version":[{"id":7041,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6929\/revisions\/7041"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/6930"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=6929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=6929"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=6929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}