central bank USA (The Fed) announced today that it has extended almost $12 billion in loans to the US since Sunday. banksas part of emergency measures to fulfill withdrawal requests and increase public confidence in the country’s banking system.

In a press release issued jointly with the Treasury Department and the Federal Deposit Insurance Corporation (FDIC), the Fed also refers to measures aimed at calming individuals and businesses after the collapse of Silicon Valley Bank.

Bank of the First Republic: supported by eleven banks

It also notes that eleven U.S. banks, including Bank of America, Citigroup and JPMorgan, have agreed to provide First Republic with deposits totaling $30 billion as a sign of their “trust in the U.S. banking system,” they said. in their joint statement.

“These actions by America’s largest banks reflect their trust in the First Republic and banks of all sizes and demonstrate their shared commitment to helping banks serve their customers and communities,” the statement said.

The Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) confirmed in their own joint statement that eleven banks will contribute $30 billion to First Republic Bank.

^{According to APE – BEE, AFP}