newsroom 11 banks stepping up to provide a financial life line to first republic bank, the regional u.s. bank facing significant challenges the last week. [ sirens ] this is an area that will see the line of storms move through the overnight hours and early morning hours friday. we know the intercept was intentional. we know the aggressive behavior was intentional and very unprofessional and very unsafe. live from london, this is cnn newsroom with max foster and bianca nobilo. it is friday, march 17, 9:00 a.m. in london, 4:00 a.m. in new york where new trading day gets under way in just a few hours. investors may be wondering if another regional bank needs rescuing. it looks better for first republic after 11 major banks extended a lifeline to keep it afloat. a large percentage of uninsured deposits prompted many customers to pull their money from the bank. and shares soared after the news. right now futures are steady if not rising slightly and markets acr
that this collapse wasn t their fault, it was the banking regulators who were asleep at the wheel. and believe me, i have questions for a lot of the banking regulators. but congress handed chair powell the flame thrower that he aimed at the banking rules. european central bank says banking center is strong and solvent and raised its benchmark interest rate half a point bringing them to 3%, highest level since 2008. ecb president christine lagarde says inflation is projected to remain too high for too long. and the u.s. banking system is stronger now than before the great recession. given the reforms that have taken place, and theri was aroun 2008 so i have clear recollection of what happened and what we had to do, we did reform the framework, we did agree on basal 3, we did