NYSE Suspends Trading of First Republic Bank Stock
The New York Stock Exchange( NYSE)Â has suspended trading of First Republic Bank’s shares and started the process of delisting the stock.
Tweet on NYSE First Bank suspension
NYSE Suspends Trading of First Republic Bank Stock, @wsj reports.#FirstRepublicBank https://t.co/McDwmMafVM
— The_Journalbiz (@the_journalbiz) May 2, 2023
WSJ news on First Bank
The exchange operator said Tuesday that it would delist eight securities tied to the bank, including its common stock and seven sets of depositary shares.
NYSE’s regulation staff said the securities were no longer suitable for listing after First Republic was seized by regulators on Monday and sold to JPMorgan Chase.
First Republic is now the second-largest bank to fail in U.S. history after losing $100 billion in deposits during a March bank run that followed the collapse of fellow Bay Area lender Silicon Valley Bank.
