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Viewsroom

First Republic’s rescue cements ‘too big to fail’

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 4 May 2023

⏱️ 11 minutes

🧾️ Download transcript

Summary

JPMorgan rode to the rescue of the mid-sized lender, which recently became the latest US bank to keel over. In this Viewsroom podcast, Breakingviews columnists discuss the impact of lending giants bulking up further, and whether that itself stores up future risks. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt-out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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It's AI that knows your work as well as you do.

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Visit Slack.com forward slash meet Slackbot to learn more.

0:30.3

The views expressed on this podcast are those of the participants, not of Roalders' News.

0:45.3

I'm pleased to say that the regulators have taken action to facilitate the sale of First Republic Bank and ensure that all depositors are protected and the taxpayers are not on the hook.

0:52.3

These actions are going to make sure that the banking system is safe and sound, and that includes

0:57.8

protecting small businesses across the country who need to make payroll for workers and

1:03.2

their small businesses.

1:04.2

That was US President Joe Biden speaking on Monday about yet another bank rescue in the

1:10.6

U.S. J.P. Morgan has road to bank rescue in the U.F.

1:11.4

J.P. Morgan has road to the rescue of First Republic, a bank that had a share of wealthy depositors

1:17.3

that took fright after Silicon Valley Bank collapsed. The question of how America handles its

1:23.2

large banks that are becoming even larger is the focus of this week's views room.

1:28.6

Welcome back to the Viewsroom, the podcast from Reuters Breaking Views, where columnists from around

1:33.0

the world talk about the big stories of the week. I'm your host, Amy Dunlin.

1:40.1

Another week, another bank rescue in the U.S. and here to speak to me about about it is Lauren Silva Loughlin, the U.S. editor of Breaking Views.

1:53.4

Lauren, welcome back to the views room.

1:56.0

Thank you for having me.

1:57.7

So Lauren, as I said, Silicon Valley Bank, now we've got First Republic. I mean,

...

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