the company after the 2019 grounding of 737 maxjets. united and alaska are the two largest operators of the grounded model and could result in cancelled flights for days. alaska airlines also says it has since found some loose hardware on some max 9s. so what does this all mean for boeing and its reputation? i m joined by sunaina sinha haldea global head of private capital advisory at raymond james . lovely to see you. this is just not what boeing needed at the start of this new year. talk is through the implications. it talk is through the implications.- talk is through the implications. talk is through the imlications. , ., ., implications. it is not a good look for any implications. it is not a good look for any aircraft - look for any aircraft manufacturer. we should be clear that we do not know where the blame for this lies, whether it is the systems all with boeing. we do know that boeing is going to take the heat for this given that it can barely keep up with all the various
spoke for about ten minutes and then took no question. it is perhaps an indication ofjust how bad must have become at the regional bank. during the first quarter, it lost hundred and $2 billion in customer deposits, thatis billion in customer deposits, that is way more than half of the $176 billion it had on hand at the end of last year. after at the end of last year. after a silicon valley bank and signature bank were taken over by federal regulators, wall street worried first republic could be the next bank to go down, since it has similar clients to silicon valley bank, and the start up space. on monday the bank said it would cut a quarter of staff and/ executive compensation. live now to sunaina sinha haldea global head, private capital at raymond james. good to see you. here we are again, real concern about first
remember when it comes to their deposit base their customers that give them money, the good news is that the uninsured deposits, the deposits not backed by a federal guarantee from the united states government has fallen from over 60% to under 30%, so that is good news. what is not good news is the fact they now first republic and other regional banks have to give a much higher interest rate to customers to see if they will keep their deposits at first republic, that squeezes their profitability they can lend at a certain rate and they can then make that spread based on what they are getting from their depositors but if they have to pay more to two depositors to retain deposits that will squeeze profitability. that will squeeze rofitabili . ., , profitability. thank you, see ou profitability. thank you, see you again soon. sunaina sinha haldea global head, private capital at raymond james. well, let s stay on this