Bloomberg Business

First Republic Rescue Proposal Would Convert Deposits to Capital

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has hatched a new plan to aid First Republic Bank that would convert some or all of the $30 billion in deposits that a group US banks injected into a capital infusion for the struggling California lender, according to people familiar with the situation.

Central Banks Signal No Dash for Dollars in New Swap Lines

(Bloomberg) — Global central banks witnessed no dash for dollars after uniting with the Federal Reserve to ease access to supplies of the US currency, an indication the latest bout of banking turmoil may not be causing undue stress to the financial system.