On Thursday, the stock price of the California bank specializing in mortgage lending First Republic Bank fell by almost 30% after reports of a possible sale of the bank's business. The current value of First Republic Bank shares is $22.02 per security. Today, the American media reported that First Republic Bank is considering strategic options, which include the sale of the business. The Bank is also considering options to increase liquidity in order to attract attention from larger competitors. Earlier, the international rating agencies Fitch Ratings and S&P Global Ratings downgraded the ratings of First Republic Bank to «ВВ» and «ВВ+», respectively, and placed the organization on the list for revision with the possibility of downgrading. Recall that on March 10, California regulators closed Silicon Valley Bank (SVB), which became the largest bankruptcy of a bank in the United States after the 2008 financial crisis. The collapse of the SVB turned out to be associated with an increase in the Fed's key rate, which led to the depreciation of assets on the balance sheets of many financial institutions. In addition, on March 8, the closure of the crypto-oriented Silvergate bank was announced, and on March 12, the similar New York Signature Bank. Analysts note that the bankruptcy of SVB has raised concerns that other American banks may also face problems. Against this background, the market experienced a «dumping» of shares of similar SVB banks, such as First Republic, Signature Bank and Western Alliance.
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