, which you mentioned 1st republic, bank deposits, mostly uninsured, about 2 thirds of them making matters even worse, according to s and p. global 1st republic also had a 111 percent loan to deposit ratio at the end of last year. that means that loaned out more money that than it has and deposits that's, that's more like i can pretty much do math. that makes no sense. that's something the 14th largest bank in the us should be doing what they did and won't silicon valley bank when under the red flags were everywhere for this bank as well. and even more interesting, several, the 1st republics, top ranking executives selling $12000000.00 in the stuck into 2 months leading up to this crisis. this is public disclose information and quite frankly, so 1st republic got into this smith done about 88 percent this month. so far, so less than stellar finances and broader worries influencing. that's what happens next with 1st republic. that's the big question and there's really no answer yet. it's like every morning we wake up here on wall street, there

ah, and this bank 1st republic was known as a bank that cater to wealthy individuals. so those wealthy individuals began to feel queasy when they realized that the bank has so many about 67 percent of its deposits were uninsured. in other words, they were covered by the government's insurance scheme that a janet yellen were we just heard a speaking about. so they began withdrawing, putting their money into bigger, more solid banks. and now that those banks have joined together to give a resounding vote of confidence. not only in 1st republic, but in all other small or medium size or regional banks. that's what the hope is that that holds the well, the jitters stem, the contagion give people a little bit more peace of mind that their money is safe. yet robert, despite this rescue that for the owner, this continues to raise questions about the broader health of the u. s. banking system. yes, it does. and, and about just the very strange economy that we find ourselves in with the inflation still running pretty pretty. a strong of the interest rates rising yet employment,

and this bank 1st republic was known as a bank that cater to wealthy individuals. so those wealthy individuals began to feel queasy when they realized that the bank has so many about 67 percent of its deposits. were uninsured, in other words, they were covered by the government's insurance scheme that a janet yellen, what we just heard a speaking about. so they began withdrawing, putting their money into bigger a more solid banks. and now that those banks have joined together to give a resounding vote of confidence. not only in 1st republic, but in all other small or medium sized or regional banks. that's what the hope is that, that else? well, the jitters stem, the contagion, give people a little bit more peace of mind that their money is safe. so let's bring in tom baker. he is a senior fellow at columbia business school and columbia law school. he's also worked in corporate strategy at several large domestic and international banks. he joins us live from new york, todd good to happy with us. let's talk 1st about 1st republic. we've now seen wall street ride to t

it may be in the united states, maybe the world, and this bank 1st republic was known as a bank that cater to wealthy individuals. so those wealthy individuals began to feel queasy when they realized that the bank has so many about 67 percent of its deposits. were uninsured, in other words, they were covered by the government insurance scheme that a janet yellen, what we just heard a speaking about. so they began withdrawing, putting their money into bigger, more solid banks. and now that those banks have joined together to give a resounding vote of confidence. not only in 1st republic, but in all other small or medium sized or regional banks. that's what the hope is that that'll quell the jitters stem. the contagion give people a little bit more peace of mind that their money is safe. to a baker from a columbia business school says the problems with the american bank so different from those facing at credit suisse. there's been a lot of publicity many much bit misleading about us banks. the, the banks that didn't get back or got in trouble was silicon valley bank. and there were a g

and this bank 1st republic was known as a bank that cater to wealthy individuals. so those wealthy individuals began to feel queasy when they realized that the bank has so many about 67 percent of its deposits. were uninsured, in other words, they were covered by the government insurance scheme that a janet yellen, what we just heard a speaking about. so they began withdrawing, putting their money into bigger a more solid banks. and now that those banks have joined together to give a resounding vote of confidence. not only in 1st republic, but in all other small or medium size or regional banks. that's what the hope is that that holds a well, the jitters stem, the contagion give people a little bit more peace of mind that their money is safe, aren't you metric? his professor finance and management at yale university joins us from new haven in the u. s. good to happy with this emergency funding. we assurances, but will this be enough to settle the markets investors and general populations? well, i would say this is certainly what they have to do. it's one step that

i think 1st republic was known to be a weak bank, even before silicon valley bank failed. i think it's widely recognized that 1st republic does need recapitalization does need to be merged with a stronger partner. so i think this is just the market trying to guest the price at which that table who will take place. i'd like to take a step back and talk about one of the reason behind the demise of silicon valley bank, which are these long term bond portfolios. now we've been speaking a lot about long term bond issues in relation to european and american bangs. but you've highlighted that there are looming risks in asia. could you walk us through what you see there? well, i think there are 2 sets of risk in asia and in japan, in particular, one is the japan is likely to raise its interest rates and that could generate some of the pressures on the long term. yen denominated bond portfolio that many japanese banks hold. the 2nd risk is that a number of japanese banks project curly job trans post bank, have large portfolios or u. s. bonds with their funding was short term fund mo

banks. well, rob reynolds joins us live now from outside of broncho 1st republic bank in los angeles roberts, pretty rare for us banks to be rescuing each other. but is this injection of cash and to 1st republic like had to have work? do you think? hey, well darren, the, the answer to that is maybe on the one hand, the branch behind me is still open for business. so that's a good thing. on the other hand, 1st republic shares in after hours trading fell about 13 percent. not exactly a sign of extreme confidence, but what's different about this of rescue as opposed to previous rescues in the case of, for example, silicon valley bank is that this is private banks getting involved is the 11 biggest players in the banking sector in the united states. not the government. so you heard of the sound bite that we played a minute ago from the treasury secretary, janet yellen assuring congress that no taxpayer money was going into these banks. that's important because of taxpayer funded bailouts by the government or government bailouts of any kind, frankly, are extremely politically unpopular. so the by

thanks to rescue plans offered to 2 banks, emergency funding provided to us lender 1st republic. so stocks and the day hire that was the dow and back closed the day positively. while a $54000000000.00 lifeline to investment bank credit suisse ear concerns in european markets. this with central bank loan, which provided a liquidity back stop, is the 1st emergency help offered to a major global bank. since the 2008 financial crisis shares closed 19 percent higher, recovering most of wednesday's losses will, despite the uncertainty of the previous days, the european central bank on thursday raised interest rates by half a percentage point to 3 percent. part of his goal of fighting inflation potential now is focused on 1st republic in the u. s. it's a regional bank whose shares had fallen 70 percent in the past 9 trading sessions. 11 banks, including 4 major lenders, a part of a rescue plan was $30000000000.00. first republic shares coast about 10 percent higher on thursday, which is salumi has more for more st. j. p. morgan chase, bank of america and 9 other major financial instituti

bank of america and 9 other major financial institutions came to the rescue of the california bank 1st republic on thursday, depositing some 30000000000 dollars into the bank to shore up its finances that sent its stocks and the banking sector in general. back into positive territory. approaches broke out in paris after the french government forced through controversial pension reform. without a vote in parliament, came up to the government failed to convince a majority of m. p. 's to back the bill. changes raise the retirement age from 62 to 64. present during my call says it's essential to cover pension deficits. when i was president, his appealed for global support. after a tropical psychos hit the east of southern africa, soccer and freddie is one of the deadliest and longest lasting tropical storms to hit africa in recent years. at least 326 people have died and hundreds of missing in malawi, after mud slides and severe flooding tor through the region. the us military is released video of an encounter between a russian fighter jet and the u. s. drone. the pentagon says the russian aircraft

this been our 1st hello for global banking stalks on friday, despite support shown by big us lenders for smaller one from 1st republic bank. yes, president joe biden school for congress to impose tough a punishment on bank. a turkish president worship type vote along as agreed to stop the process to ratify finland's nato membership. but he says he will continue. discussions with sweden about what anchor says is a lack of commitment to fight. right. police have confronted angry, protested for a 2nd day in paris. there were violent demonstrations outside parliament against controversial pension reforms. on thursday, the government bypassed parliament to push through a plan to raise a retirement age from 62 to 64. natasha butler, as more from paris, with a number of french ministers have been trying to defend the pension reform. and the way 8 was forced through by decree by passing parliament. they said it was an action that was necessary because they say that this reform is essential if france is able to sustain aid pension system in the future. nevertheless, that is certainly not washing with many. m p. 's a lot of an

worries and then how will there be some sort of bailout or recovery effort for that bank, whether it was 1st republic, silicon valley bank, signature, bank credit suisse. we've seen this cycle now for a little over a week and that it's a continuing cycle that we're seeing now. in terms of 1st republic, they gained actually about 10 percent on thursday, after there was the announcement, the wall street was injecting nearly $30000000000.00 into that bank as a confidence measure. we're already seeing that that's not having much effect on friday. first republic, down about 20 percent in early trading signature bank down about 6 percent. so it's really these regional banks that we continue to see really taking these hard hits, as there's really apprehension on wall street of what could happen this weekend. as people are really looking at what regional banks don't have their deposits insured, don't have their deposit, it's guaranteed. and could ex bank ex being what is that bank potentially be the next to fail? right. and what we saw on friday, gabriel, is that silicon valley bank. you're mentioning that b

s. private banks have been pumping billions into california based lend. the 1st republic just stays off the collapse of silicon valley bank or by nose has more not from the centuries. california based 1st republic bank got a 30000000000 dollar rescue package from the country's biggest financial institutions. the small bank, which specialized in catering to ultra wealthy individuals, had many uninsured deposits. nervous customers began withdrawing money rapidly after 2 other mid sized bags failed in recent days. first republic is an interesting sample of industrious, i think, anticipating a problem where none exists, but the very anticipation and they draw down their deposit base. i put the bank at some degree, aggress, banking giants, j. p. morgan chase city group, bank of america, and wells fargo agreed to deposit $5000000000.00 apiece in 1st republic with other banks supply smaller amounts in a joint statement, the big bank said their rescue plans showed their confidence in 1st republic and banks of all sizes which they added are critical to the health and functioning o

bank of america and 9 other major financial institutions came to the rescue of the california bank 1st republic on thursday, depositing some 30000000000 dollars into the bank to shore up its finances that sent it. stocks and the banking sector in general back into positive territory. the worry of course, after the failure of silicon valley bank in california was that other banks would follow suit. depositors were getting nervous. they might try to withdraw their money and banks without enough liquidity would fail. that was weighing down the markets in the banking sector, particularly 1st republic shares started the day on thursday, down some 70 percent. on this news though, they rebounded and close the day of 10 percent and still haven't made up all of the losses for the last week, but they're heading in positive direction. there was other positive news affecting the markets today. the a deal to short credit suisse also being factored into the the mood here on wall street. janet jaelyn, the treasury secretary of the united states, spoke before a senate finance committee, also reassuring the ame

has been a fresh sell off of global banking stalks on friday to spice. shame by big us lenders, a smaller rival 1st republic bank. u. s. president joe biden is calling for congress, imposed telpa punishments on bank executive target president wretch of type. edwin has agreed to start the process to ratify finland's nato membership, but he says he will continue. discussions with sweden about what anchor says is and lack of commitment to fight terrorism. arrive beneath have confronted angry protestors for a 2nd day in paris with violent demonstrations outside parliament, against pension reforms. on thursday, the government by policy parliament to push through a plan to raise the retirement age from 62 to 64. and tasha butler's in paris with me well, a number of french ministers have been trying to defend the pension reform in the way it was for through by decree, by policy parliament they said it was an action that was necessary because they say that this reform is essential if fraud is able to sustain its pension system in the future. nevertheless, that is the nino washing with many m p 's a lot of anger amo

a. considering a rescue bid for struggling regional bank 1st republic, christian to me is on wall street in new york. and the big worry was that 1st republic would be the next bank to fail, that after silicon valley bank went under, that there would be a domino effect with more worried depositors taking their money out of financial institutions with questionable liquidity. leading to a large scale crisis. but now today, the word is that a number of financial institutions are in negotiations to deposit money into 1st republic and sure it's finances. and certainly we're seeing a positive response to that in the markets. the u. k. government and healthcare unions of come to final pay offer, which could end strikes affecting the national health service. the offer to unions representing nurses and ambulance workers include additional pay for next year. unions of already voice mixed reaction to the offer. notes of water is next here. now desert when you feed off that oh, i don't know for sure to something he could see golf kitchen coming home from which month to hook up the account. so she did

bank of america. and wells fargo agreed to deposit $5000000000.00 apiece in 1st republic with other banks supply smaller amounts. in a joint statement, the big bank said their rescue plans showed their confidence in 1st republic and banks of all sizes which they added are critical to the health and functioning of the financial system. are pretty jar, jovial group treasury secretary, janet yellen tried to convince congress and the public that there is no cause for panic. when my lead, i can reassure the members of the committee that our banking system is sound and that americans can feel confident that their deposits will be there when they need them. this week's actions demonstrate our resolute commitment to ensure that our financial system remain strong and the depositors savings remain safe. will the private sector rescue and public sector rhetoric be enough to quell investors? queasiness stock, market indices, closed hire one sign the strategy may be working. but analysts say there is real fear in the financial sector. the shareholders are at risk, as was noted. the 1st republic shares sword at the m

s. banking system haven't eased. investors lost confidence and 1st republic bank, sending us stock price tumbling, 35 percent. this comes just days after the collapse of silicon valley bank spooked markets, but news of a rescue package from a group of wall street banks sent sent the san francisco based lenders shares up again. now as this was happening, said, shared janet yellen spoke to congress saying the u. s. banking system remains sound . now let's get some insight from wall street on these developments. yes. call to joins me from new york. hi yann's. yes. how worrying as what's going on with 1st republic? yeah, maria, desperate time stephan at lee call for desperate to measure says so when we got a word that obviously um, almost a dozen of from usaa banks are jumping him to an end to get a deposit stu 1st republic. him that did definitely cause so quite it would change . sure. but then again, i mean to think about it as sort of competitors helping another bank to stay afloat . that is of what i would call a desperate measure. i mean, the stock did turn around into is saw some decen

s. lenders for the smaller bank 1st republic bank us president joe biden is calling for congress, imposed health punishments on bank executive. rob police have confronted angry protestors in paris for a 2nd day. they was loyal and demonstrations outside parliament against pension reform. it comes a day after the government push, sir a plan to raise the retirement age from $62.00 to $64.00. take, he is, president says he will now support finan sped to join nato. meanwhile, the swedish foreign minister says encores decision to only ratify finland's bid is regrettable. authorities in malawi, coming to grips with the scale of destruction from cycling freddie at least 400 people have died in the region. and tens of thousands have been displaced by the flooding. former pakistani prime minister, wrong con, is traveling from the horses lombard, and will appear in court. facing multiple legal cases, con, denies charges tops. it's been 20 years since the united states led invasion of iraq, which overthrew president saddam hussein a widely controversial military operation that kills hundreds of thou

america. us saw losses throughout the day, but some of the biggest losses were by regional banks 1st republic. another san francisco bank in shaky territory saw its value dropped nearly 50 percent. this, despite chase bank coming in and offering financial support to shore up its finances. some of those stocks actually had their trading suspended throughout the day because they were dropping too quickly and that scared regulators. but at the end of the day, it wasn't as bad as some expected. some investors found opportunity and hope in the government's recent action actions to sure up on the banking situation. seeing that as a sign that maybe interest rates won't be raising as quickly. others sought protection in stable government bonds. we saw a lot of investors putting their money there and what is considered a safer investment as that could be assigned, that there are still a lot of concern and worry about the state of the economy. meanwhile, here the authorities have also been reassuring taxpayers that they won't be liable for any of this either. after emergency talks, europe's largest ban

s. markets wrapped up the week closing under a sea of red, pushed down by banking stocks on friday. shares and 1st republic bank closed down 33 percent that's despite an injection of cash worth $30000000000.00. european stocks also ended the week down. the us president joe biden now wants congress to imposed of a punishment on bank executives. he tries to reassure the public following the collapse of silicon valley bank and the parent company of s. v b has filed for bankruptcy protection. with much of the tech focus company already under the control of regulators. comes a leak out for a surge of withdrawals trickled the triggered the worst banking collapse since the financial crisis. gabriel is on to as more from the new york stock exchange. it was another tough day on wall street, as all of the major indices were in the red and down throughout the entire day. any of the gains that were made on thursday were wiped out on friday, but the market is also giving very mixed signals as we enter this next phase of the u. s. banking crisis. in some ways, we're seeing the markets very much down. but for the week, t

banks in the u. s. have palm billions and to california based lender 1st republic. that's just days after the collapse of 2 major banks, rob reynolds has more from los angeles, california based 1st republic bank got a $30000000000.00 rescue package from the country's biggest financial institutions . the small bank, which specialized in catering to ultra wealthy individuals, had biddy, uninsured deposits, nervous customers began withdrawing money rapidly after 2 other mid sized bags failed in recent days. first republic is an interesting sample of industrious, i think, anticipating a problem where none exists. but the very anticipation in the drop down their deposit base has put the bank at some degree. aggress banking giants. j. p. morgan chase citigroup. bank of america and wells fargo agreed to deposit $5000000000.00 apiece in 1st republic with other banks supplying smaller amounts in a joint statement, the big bank said their rescue plans showed their confidence in 1st republic and banks of all sizes which they added are critical to the health and functioning of t

s, they're still unfinished business with another bank, their 1st republic. so that could also add to the jitters later. put this takeover in perspective for us. how big of a deal is it a huge deal shocking. it's one of these are 2 of the largest banks. i'm in the world. credit suisse was one of those. and this deal, $3200000000.00, a kind of shot gun wedding that really happened so much urgency that's, that's one of the things that was really transit, $3200000000.00. a for bank that on friday was valued at $8000000000.00. so you really see how regulators wanted to push this through and there were 2 reasons. one, because this effect of the swiss economy, there are a lot of employees of these banks. they wanted those assets to remain in the country and be disassembled by another swiss bank. but also because of the overall global, meaning there's a lot of pressure for them to wrap this up before markets open. so urgency, urgency, urgency was behind us and the markets are reading that as well. you mentioned urgency, well people around world of very concerned abo

now we're seeing a rebound in the banking sector. that 1st republic started the day down 30 percent . it's now in positive territory as our other banks. this, along with news that credit suisse finances are being short. ob, seemed to be reassuring investors. also. we heard from treasury secretary, janet jaelyn on thursday saying that the contagion had been contained that quick moves on the part of the government were shoring up the banking sector. and so far anyway, investors seem to be buying that argument. there seems to be growing confidence that a bank in crisis has been averted. thank you very much. the chris's moving the spokesman for the libyan warlord, honey, for after says more than 2 tons of uranium that have been reported missing by the u . n's. nuclear watchdog has been found. the 10 drums of radioactive material were located near the border with chad. after spokesman said, whoever sees the barrels like he thought they contained weapons or ammunition. the uranium was reported missing on tuesday when the international atomic energy agency i

it was a fresh sell off of global banking silks on friday, despite support shown by big u. s. lenders for smaller rival 1st republic bank. you as president joe biden is calling for congress, imposed tougher punishments on bank executives. the parent company of silicon valley bank has filed for bankruptcy protection with much of the tech focus company already under the control of regulators. it comes a week after surge, if withdrawals triggered the biggest bang collapse since the financial crisis. ryan police, i have confronted angry, protested in paris for a 2nd day. there were violent demonstrations outside parliament against pension reforms. it comes a day out to the government by pass parliament and push through a plan to raise the retirement age from $62.00 to $64.00 target president red chip tape $81.00 says he will now support finland sped to join. nato happened after his meeting with finish president sally iniesta. in ankara, the swedish foreign minister says encores decision to only ratify finance. it is regrettable. finance presidents as nato membership would be incomplete without its closest neighbor, swe

out of touch with ordinary people. us markets finish the week being pushed down by banking stocks. shares and 1st republic bank closed nearly 33 percent lower on friday. that's despite a cash injection of $30000000000.00 or peon stocks also and did down the us presidential byte in once congress to impose tougher punishments on bank executives . following the collapse of silicon valley bank and the parent company of silicon valley bank has now filed for bankruptcy protection. much of it is already under the control of regulators. this comes a week after a surge of woods rolls trigger the worst bank collapse since the 2008 financial crisis. gabriel elizondo has more from the new york stock exchange. it was another tough day on wall street. as all of the major indices were in the red and down throughout the entire day, any of the gains that were made on thursday were wiped out on friday. but the market is also giving very mixed signals as we enter this next phase of the u. s. banking crisis, in some ways we're seeing the markets very much down. but for the week the market has been quite resilient. for exampl

s. banks have handed a lifeline to struggling 1st republic bank after investors lost confidence in the regional lender. a group provided a $30000000000.00 cash injection to shore up its balance sheet. amid fears of a bank run, orchids have been spooked by the sudden collapse of to us banks last week. german chancellor of schultz has voiced concern over israel's planned overhaul of its judiciary. he made the comments after meeting with israel's prime minister benjamin netanyahu in berlin. critics say the israeli government's plans would allow it to overturn supreme court rulings. the plans have sent thousands of israelis on to the streets. for weeks of protests. poland is set to become the 1st nato member to supply fighter jets to ukraine. president andres duda says his country will deliver at least 4 fully operational soviet era make 20 nines in the coming days. due to said additional aircraft with follow, ukraine has repeatedly urged western partners to send war plans to help defend against russia's invasion. i say yes, you helene via jets have long been on the ukrainians wishlist and

so the largest us banks have thrown a lifeline to troubled 1st republic bank by depositing $30000000000.00 into his accounts to ease a sudden liquidity crisis. among the rescuing banks are j. p. morgan chase city group, bank of america and goldman sachs. argentina central bank has raised interest rates to 78 percent. the $300.00 basis point increase comes after year on year inflation exceeded a 102 percent in february, reaching triple digits for the 1st time. and over 3 decades. new zealand has become the latest country with at least past or restrictions on tick tock. banning the video app from any device is used by parliamentarians is due to cybersecurity concerns and it follows similar measures taken by the u. u. s. meanwhile, wants to band tick tock entirely. if chinese ant bite dumps went divest it steak and strikes it for german airports of lead to the cancellation of hundreds of flights on friday, german union verde called on security on ground handling staff at airports in dusseldorf, cologne, bon stood grip, stuttgart and bowden, bowden to strike over pay and working conditions. in

s. banks have handed a lifeline to struggling 1st republic bank after investors lost confidence in the regional lender. the group provided a $30000000000.00 cash injection to assure up its balance sheet amid fears of a bank run. market sir, been spooked by the sudden collapse of 2 u. s. banks. last week. china's foreign ministry and the kremlin have confirm present. she's in paying, we'll meet with his russian counterpart vladimir putin in moscow next week. it will be, she's 1st visit to russia since 2019 and comes as putin faces isolation on the world stage over his war on ukraine. poland is set to become the pers, nato member to supply fighter jets to ukraine. president on j do does, says his country will deliver at least 4 fully operational soviet era make 20 nines in the coming days. due to said additional aircraft with follow. ukraine has repeatedly urged western partners to send warplanes to help defend against russia's invasion. fabri, spotty, a is a security analyst, and ceo of russ most in global political consultancy. i asked him why poland has taken the initiative in sending