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   From: both_failures@splcenter.org   
      
   On 04 Aug 2021, "13% = 6x the crimes!"  posted   
   some news:sef31f$nrs$5@news.dns-netz.com:   
      
   > Phil Omdahl wrote   
   >   
   > Trump used the Democrats for toilet paper   
      
   San Francisco-based First Republic Bank suffered another blow on Sunday   
   after S&P Global Inc. downgraded its long-term issuer credit rating from   
   BB+ to B+, Bloomberg reported, making it harder and more expensive for the   
   bank to borrow the very funds that could help it continue to stay afloat.   
      
   The downgrade comes as banks around the world are struggling to fend off   
   catastrophe following the collapse of Silicon Valley Bank on March 10. It   
   came just days after the bank's debt rating was downgraded to junk status,   
   and means that First Republic's creditworthiness is considered highly   
   speculative by the ratings agency.   
      
   The bank had already suffered downgrades from by S&P and Moody's on   
   Wednesday, moving it to a level considered a risky bet. S&P lowered the   
   bank's rating from A- to BB+, or high risk. Moody's followed suit,   
   downgrading the bank below investment grade.   
      
   Following the recent downgrades, a spokesperson for First Republic Bank   
   said that the bank was well-positioned to manage short-term deposit   
   activity thanks to the U.S.-orchestrated rescue by 11 of the bank’s   
   competitors, which deposited $30 billion. The spokesperson said the   
   support—which commentators have said was essential to stave off a   
   systemwide crisis—reflects confidence in First Republic and its ability to   
   continue to provide exceptional service to its clients and communities.   
      
   However, this latest downgrade suggests that First Republic Bank's   
   solvency is becoming increasingly fragile. It has been the subject of   
   global attention as a possible next domino to fall in the context of the   
   current crisis in bank solvency globally, which has been caused by a   
   combination of factors, including low interest rates, economic uncertainty   
   and rising levels of debt.   
      
   The recent deposit infusion from other banks is only a temporary solution,   
   and the bank needs to find a more sustainable way to attract deposits to   
   support its operations, according to S&P, Bloomberg reported. If the bank   
   is not able to attract additional depositors and defend the value of its   
   stock, its rating could be downgraded further, the report said.   
      
      
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)