let s start in the us where some of the worlds leading money managers are warning the collapse of another american bank could lead to a credit crunch and an economic slowdown. constrained lending as a result of stricter banking regulation could stifle credit to the us economy at a critical time. we ll get an expert view on this in a moment but first here s my colleague samira hussain on the collapse of first republic. as of monday, first republic customers turning up at their bank are in fact customers ofjp morgan chase. the signs above will soon change. first republic had been under pressure since the collapse of silicon valley bank and signature bank two months earlier. last week, first republic revealed deposited had removed $100 million in the space of a few months. customers feared their money was not safe. investors became convinced that it too was about to fail. riding to the rescue of america s distressed financial system, the boss of america s biggest bank, jamie dim
making actions to reduce exposure and global footprint. so they have sold operations in canada, looking to sell operations in france, and to be honest, i think it s a lot of hot air, to get some institutional messes behind them, they failed to do so so far. , , ., , ., far. briefly, before we let you io, far. briefly, before we let you go. your far. briefly, before we let you go. your take far. briefly, before we let you go, your take on far. briefly, before we let you go, your take on the - far. briefly, before we let you go, your take on the bankingl go, your take on the banking sector overall right now? are you concerned, given the news we had at the getting of this week from first republic? ida. we had at the getting of this week from first republic? no, i think i would week from first republic? no, i think i would agree week from first republic? no, i think i would agree that - think i would agree that sentiments that were expressed that regulators have been very author