Big banks agree on $30 billion plan to save First Republic
Matt Egan discusses the measures banks are taking to stop another failure.
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This week has been a whirlwind for markets on worries that banks may be bending under the weight of interest rates hikes.
As Treasury Secretary Janet Yellen offered firm, upbeat reassurances to rattled bank depositors and investors Thursday, 11 of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank in an effort to stop the California-based bank from becoming the third bank to fail in less than a week.
