In the US, First Republic Bank shares plunged 22 percent amid the collapse of the SVB.

Shares of the American First Republic Bank fell by almost a quarter after the publication of a financial report with data on a massive outflow of deposits.

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At the moment, the paper is depreciating in post-trading by 22.13%, to $16 per share.

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The bank’s deposits, which totaled $176.43 billion in the fourth quarter of 2022, fell to $104.47 billion, while the bank received an additional $30 billion in assistance from Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.

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“After the closure of several banks in March, we faced an unprecedented outflow of deposits,” Neil Holland, the bank’s chief financial officer, said in the report.

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The mass exodus of depositors began against the backdrop of the largest bank failure in the United States since the 2008 crisis – in March, California regulators closed Silicon Valley Bank. Its collapse is associated with an increase in the key rate of the Federal Reserve System, which led to the depreciation of assets on the balance sheets of many financial institutions.