First Republic Bank looms large for regulators after CS sale, WSJ says

U.S. policy makers warily watched the rushed rescue of Credit Suisse (CS) over the weekend, hoping that its purchase by UBS (UBS) would stem a slide in financial stocks triggered by the recent collapse of two regional banks, The Wall Street Journal’s David Benoit and Andrew Ackerman report. Late Sunday, the Fed and five major central banks announced a coordinated effort to improve liquidity by moving U.S. dollars among themselves each day, starting Monday, instead of once a week. As jittery markets prepare to open Monday, U.S. officials’ main concern is First Republic Bank (FRC), which required rescue funding last week from a group of the nation’s biggest banks, the authors note. Reference Link