U.S. officials orchestrating rescue of First Republic, Bloomberg says

The U.S. government is trying to orchestrate a rescue of First Republic Bank with the aid of the largest biggest banks, Katherine Doherty and Hannah Levitt of Bloomberg report, citing people with knowledge of the matter. Banks including JPMorgan (JPM), Citi (C), Bank of America (BAC) and Morgan Stanley (MS) are part of the discussions, sources told Bloomberg. Details of the rescue are still being worked out but could be announced as soon as Thursday, one of the people said.