April 26, 2023

Banking Troubles Are Not Over

by The Journal

Once the envy of the banking world, First Republic grew rapidly by catering to wealthy clients who wanted a high-touch service. But the bank’s highflying business came back to earth after the Federal Reserve began raising interest rates last year and customers started moving their money. WSJ’s Rachel Louise Ensign on why First Republic is now teetering on the brink. 

Further Reading:

- First Republic Lost $100 Billion in Deposits in Banking Panic 

Further Listening:

- Two Executives On What It’s Like to Stop a Bank Run 

- Can the Government Contain a Banking Crisis? 

Where to Listen