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Concerns Mount over San Francisco-Based First Republic Bank

40 points by mikhael 4y ago

aliljet 4y ago
This doesn't seem inappropriate, but the news is moving so quickly here, I wonder if something published by NBC Bay Area yesterday at 5 PM is a particularly good source of information on how First Republic MAY or MAY NOT be failing.
FormerBandmate 4y ago
It’s up 50% today. Has $70 billion of liquidity, they’re fine
- newaccount2023 4y ago
  they might be fine, but daytrading activity is not a signal that they are fine
  - xeromal 4y ago
    70 billion of liquidity is though.
    - fnordpiglet 4y ago
      “The treasury of the United States is our backstop” is even more compelling.
- ramesh31 4y ago
  >It’s up 50% today. https://en.wikipedia.org/wiki/Dead_cat_bounce https://en.wikipedia.org/wiki/Dead_cat_bounce
  - sidfthec 4y ago
    Dead cat bounce is a way to describe a pattern after the fact. It's not a way to predict what's to come.
    - kelipso 4y ago
      It's also a way to communicate your prediction of what's to come.
      - newaccount2023 4y ago
        for daytraders, "whats to come" may mean three hours no stock moves 65% down and then 50% up in two trading sessions based on fundamental research for long-term investors
    - deleted 4y ago
      [deleted]
exhibitapp 4y ago
Customer of FRB. My banker was quick and responsive to some tech support I needed. Didn't seem panicked at all. Just my perspective, take it for what it is
- deleted 4y ago
  [deleted]
- Analemma_ 4y ago
  I think FRB will be fine, but FWIW you shouldn't take this as evidence in favor of that. I guarantee all their tellers and support techs were given explicit instructions to not give any signals that anything is wrong. In a nervous environment like this, one misspoken word from a firstline tech could be all it takes to start a panic.
kornhole 4y ago
I am going to open up an account in the next few days with a sizeable initial deposit. I do not want to see the banks consolidated to a few that the fed can control.
- deleted 4y ago
  [deleted]
- fnordpiglet 4y ago
  The scope of the Feds controls over banks is scale invariant.
testcase_delta 4y ago
Are they though?
foobarian 4y ago
This is a pretty tautological headline. I could put any bank name there and it would likely be true given the events of the past 7 days

40 points by mikhael 4y ago

This doesn't seem inappropriate, but the news is moving so quickly here, I wonder if something published by NBC Bay Area yesterday at 5 PM is a particularly good source of information on how First Republic MAY or MAY NOT be failing.

FormerBandmate 4y ago

It’s up 50% today. Has $70 billion of liquidity, they’re fine

newaccount2023 4y ago
they might be fine, but daytrading activity is not a signal that they are fine
- xeromal 4y ago
  70 billion of liquidity is though.
  - fnordpiglet 4y ago
    “The treasury of the United States is our backstop” is even more compelling.
ramesh31 4y ago
>It’s up 50% today. https://en.wikipedia.org/wiki/Dead_cat_bounce https://en.wikipedia.org/wiki/Dead_cat_bounce
- sidfthec 4y ago
  Dead cat bounce is a way to describe a pattern after the fact. It's not a way to predict what's to come.
  - kelipso 4y ago
    It's also a way to communicate your prediction of what's to come.
    - newaccount2023 4y ago
      for daytraders, "whats to come" may mean three hours no stock moves 65% down and then 50% up in two trading sessions based on fundamental research for long-term investors
  - deleted 4y ago
    [deleted]

exhibitapp 4y ago

Customer of FRB. My banker was quick and responsive to some tech support I needed. Didn't seem panicked at all. Just my perspective, take it for what it is

deleted 4y ago
[deleted]
Analemma_ 4y ago
I think FRB will be fine, but FWIW you shouldn't take this as evidence in favor of that. I guarantee all their tellers and support techs were given explicit instructions to not give any signals that anything is wrong. In a nervous environment like this, one misspoken word from a firstline tech could be all it takes to start a panic.

kornhole 4y ago

I am going to open up an account in the next few days with a sizeable initial deposit. I do not want to see the banks consolidated to a few that the fed can control.

deleted 4y ago
[deleted]
fnordpiglet 4y ago
The scope of the Feds controls over banks is scale invariant.

testcase_delta 4y ago

Are they though?

foobarian 4y ago

This is a pretty tautological headline. I could put any bank name there and it would likely be true given the events of the past 7 days