> Part of First Republic’s pitch to the other banks: The big banks would have to pay up anyway if First Republic failed. If the Federal Deposit Insurance Corp.

> Part of First Republic’s pitch to the other banks: The big banks would have to pay up anyway if First Republic failed. If the Federal Deposit Insurance Corp. guaranteed all depositors, the other banks would be hit with a special assessment for a federal insurance fund. If the FDIC didn’t guarantee depositors, the banks would take a haircut on their uninsured deposits. Interesting 'gotcha'.