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so let s get down to business and turmoil in the banking industry is back. shares in the us regional lender first republic dropped more than 20% in extended trading on monday after it revealed it suffered a huge drop in deposits during the first quarter. first republic came under intense pressure after silicon valley bank and signature bank collapsed last month. samira hussain has more from new york. normally more from new york. when a company is earnings normally when a company is earnings for a quarter are released executives hold a call with analysts when they take questions, that wasn t the case for first republic, executive 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 ....
What is known as tier1 capital note providers who got wiped out, therefore they are saying hang on it should be the shareholders the equity holders should be wiped out, that is the convention, not the people who have lent money to the bank. and we won t weep too much for massive institutions such as mitsubishi and pacific intervention pacific and investment, these are not private individuals but massive financial organisations, they are taking ubs to court rather the regulator to court over the same can you do this? that is really the function of lawyers seeing this as an opportunity in the piranha fish tank to make money out of this rather than any real legal claim there. ,, , than any real legal claim there. ,, ., ., . there. quickly ubs announced esterda there. quickly ubs announced yesterday it there. quickly ubs announced yesterday it is there. quickly ubs announced yesterday it is hiring - yesterday it is hiring negatives from barclays, three bigwigs from barclays to pu ....
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