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Shares of First Republic Bank surged in premarket trading on Friday, after a report that Federal Deposit Insurance Corporation (FDIC), the Treasury Department and the Federal Reserve were in discussions with banks and even private equity over a rescue solution for the troubled lender.
Citing sources, Reuters reported that U.S. officials were organizing discussions, and one of those sources said that private equity groups have also been involved in those meetings to try to keep First Republic FRC afloat as its shares have tumbled…
