Banks in talks to deposit about $20B in First Republic, CNBC reports

A group of banks is in talks to deposit around $20B in First Republic (FRC), sources tell CNBC’s David Faber. The bank had said on Sunday that it had more than $70B in availability liquidity, not counting additional funds it could possibly raise from the Federal Reserve’s Bank Term Funding Program. Bloomberg previously reported that banks including JPMorgan (JPM), Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), Morgan Stanley (MS) and PNC Financial (PNC) are close to agreeing upon a plan to deposit about $30B in First Republic. Reference Link