The banking crisis is continuously deepening in the whole world including America.
After Silicon Valley Bank, now another major bank of America "First Republic Bank" is surrounded by crisis.
At the close of trading on Friday, there was a tremendous decline in the shares of First Republic Bank.
First Republic Bank shares plunged 43% on Friday after the CNBC report.
Looking at the condition of the bank, the Federal Deposit Insurance Corporation (FDIC) can place one of its receivers in the bank.
After this news came, the bank's shares suddenly fell by 30 percent. It declined by about 43%.
Let us tell you that the shares of First Republic Bank have fallen by 50 percent of the bank's value so far.
Trading in First Republic Bank shares was halted several times during trading.
The stock price of First Republic Bank has reached its lowest level of $ 3.09 after a huge decline.
First Republic Bank's market value has fallen by $21 billion this year. The bank also got the help of the government earlier.
America's banking crisis continues, the condition of Silicon Valley Bank and Signature Bank had already come to the fore.