First Republic Bank led a decline in bank shares Monday that came even after regulators extraordinary actions Sunday evening.
that will offer loans up to a year to banks in return for high quality collateral like Treasurys. The central bank also eased conditions at its discount window.
First Republic said Sunday it had received $70 billion in additional liquidity from from the Federal Reserve and"First Republic's capital and liquidity positions are very strong, and its capital remains well above the regulatory threshold for well-capitalized banks," said founder Jim Herbert and CEO Mike Roffler in a statement.lost 4% in premarket trading Monday following a 15% decline last week.
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