Major US banks create $30 billion rescue package for First Republic Bank
The US banks injected $30 billion into First Republic Bank on Thursday, swooping in to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-size US lenders over the past week. The market turmoil had ensnared Swiss lender Credit Suisse, forcing it to borrow up to $54 billion from Switzerland's central bank to shore up liquidity.
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