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First Republic gets $30bn in deposits from big banks

JPMorgan, Citigroup and Bank of America join rescue efforts with government backing

The biggest banks in the U.S. have organized a joint rescue of First Republic Bank.    © Reuters

(Reuters) -- First Republic Bank has received $30 billion in deposits from several big banks, the banks said in a statement on Thursday, as part of a rescue package for the lender.

JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Goldman Sachs Group, Morgan Stanley and others are involved in the rescue, according to the statement.

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