First Republic Banks faces potential curb in Fed’s borrowing; Dow Jones extends losses – by FXstreetNews BankStocks SP500
“The Federal Deposit Insurance Corporation has been giving the bank time to reach a private deal to shore up its finances senior officials are increasingly weighing whether to downgrade their scoring of the firm’s condition that would likely limit the bank’s use of the Fed’s discount window and an emergency facility launched last month”, said Bloomberg.Wall Street indexes printed fresh lows. The Dow Jones is falling 0.70% and the S&P 500 drops 0.46% while the Nasdaq gains 0.45%.
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