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US Government in Talks to Rescue Struggling First Republic Bank, Sources Say

Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve.

On Friday, Reuters reported that the U.S. government is coordinating with the bank’s advisers to possibly save First Republic Bank, as talks led by the advisers have yet to reach a deal in the private-sector. 

“We are engaged in discussions with multiple parties about our strategic options while continuing to serve our clients,” First Republic said in a statement to Reuters.

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