12:11 - 12.04.2023

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April 12, Fineko/abc.az. Some large U.S. banks are going to increase their reserves, ABC.AZ reports with reference to Bloomberg.

The largest U.S. banks are planning to increase reserves due to their unusual efforts to support ailing lender First Republic Bank last month.

According to people familiar with the matter, some banks, which have made the largest part of deposits of $30 bn, plan to set aside about $100 million each.

The group included JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and Bank of America Corp., each of which invested $5 bn.