U.S. lenders First Republic Bank and Western Alliance said on Friday their liquidity and deposits remained strong, aiming to calm investors worried of a spill-over of risks from troubled startup focused-bank SVB Financial Group .
It held $2.5 billion cash on its balance sheet while held-to-maturity securities made up less than 2% of assets with unrecognized loss of $192 million as of Feb. 28.
Meanwhile, FRC said average account size of consumer deposits are less than $200,000 and business deposits less than $500,000. Technology-related deposits accounted for 4% of totalIts investment portfolio is less than 15% of total bank assets and only less than 2% of total bank assets is categorized as available for sale.
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