KEY POINTS
  • First Republic rose sharply after falling more than 60% on Monday.
  • PacWest and Charles Schwab were also moving higher.
  • In addition the backstopping the deposits at SVB and Signature Bank, which was closed on Sunday, federal regulators also announced efforts on Sunday to stabilize the wider banking system.

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A First Republic Bank branch in New York, US, on Friday, March 10, 2023.

Shares of First Republic rose sharply on Tuesday as regional banks attempted to rebound from a deep sell-off, but some of the stocks struggled to hold their ground as the day progressed.

First Republic ended the day with a 27.8% gain after climbing more than 60% earlier in the session. PacWest was up nearly 34% after following a similar trajectory, and Charles Schwab added about 9%.

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