First Republic gets $30 billion lifeline from major US banks
In an effort to stave off contagion, 11 of the largest American banks have injected a total of $30 billion into First Republic, a regional bank based in San Francisco that's been struggling amid this week's turmoil in the financial sector. We take a closer look. Meanwhile, the European Central Bank has again raised interest rates by half a percentage point despite worries over stability in the banking sector.
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