Bloomberg News reported Saturday that U.S. regulators are considering expanding an emergency loan facility to allow First Republic Bank (FRC.N) additional time to strengthen its balance sheet.
The article stated policymakers are considering expanding the Federal Reserve’s emergency lending program to rescue the struggling lender.
Bloomberg said that any Fed liquidity supply modifications might help the First Republic.
Reuters received no response from First Republic, Treasury, or Fed personnel. FDIC declined to comment.
Last month, President Joe Biden’s economic team worked with regulators to bolster the banking sector by creating a new emergency fund facility and making it simpler for banks to borrow from the Fed.
