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Banks said to be working on rescue plan for First Republic
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A television screen displaying financial news is seen inside one of First Republic Bank's branches in the Financial District of Manhattan, Thursday, March 16, 2023. The S&P 500 was 0.8% higher in midday trading after erasing an earlier loss of nearly that much following reports that First Republic Bank could receive financial assistance or sell itself to another bank. - photo by AP Photo/Mary Altaffer
SAN FRANCISCO (AP) — Some of America's largest banks are working on a rescue package for First Republic Bank, according to several media reports. First Republic Bank's stock began to falter as customers began pulling their deposits out. But it was up more than 6% Thursday after reports of the recue package surfaced.