In March, three major banks in the United States including Silicon Valley Bank (SVB), Signature Bank (SBNY) and Silvergate Bank (SI) went bankrupt, raising fears of a full-blown banking crisis.
First Republic Bank (FRCB) has become the latest victim of a banking crisis and further complicating matters, shares of Los Angeles-based lender PacWest Bancorp (PACW) have dropped more than 60 % on Wednesday.
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