If First Republic could say they could meet all depositor demands, they would have. But instead this is the most they can say to stave off a run. And to their

If First Republic could say they could meet all depositor demands, they would have. But instead this is the most they can say to stave off a run. And to their credit, the fact that they're not tech heavy means the tech firms pulling from SVB aren't likely as scarred and pulling from First Republic. But First Republic has a ton of HNWIs too who are not insured. This isn't Bank of America serving mom and pops, it's rich people who will pull and are uninsured by FDIC.