Financial rating agency Moody’s Investors Service has placed First Republic Bank and five other US regional banks on watch for a possible downgrade, the latest sign of concern about the financial health of US regional banks following the collapse of Silicon Valley Bank, Bloomberg reported with reference to Agerpres.

Along with First Republic Bank, Western Alliance Bancorp., Intrust Financial Corp., UMB Financial Corp., Zions Bancorp. were placed on watch for a possible downgrade. and Comerica Inc.

The rating agency raised concerns about these banks’ reliance on uninsured deposits for funding, as well as potential losses from their asset portfolios.

Moody’s decision came after US bank stocks tumbled, even as the government stepped in to rescue SVB depositors and announced a new credit line to support bank funding and prevent another panic among depositors. For example, First Republic fell 62% on Monday, while Western Alliance fell 47% and Comerica fell 28%.

For First Republic, a regional bank in San Francisco, Moody’s said the proportion of deposits above the federally guaranteed threshold makes the bank’s funding profile more vulnerable to possible rapid and large depositor withdrawals. “If it ever faces an unexpected decline in deposits and liquidity reserves prove insufficient, the bank may be forced to sell assets, thus crystallizing unrealized losses,” Moody’s said.

First Republic previously said it strengthened and diversified its financial position with access to additional liquidity from the Federal Reserve and JPMorgan Chase & Co.