WATCH LIVE: White House press briefing amid major First Republic Bank talks

WKarine Jean-Pierre, press secretary at the House of Representatives, will address the public after reports that the government is urging major banks to pool resources in order to save First Republic Bank.

WHITE HOUSE ORCHESTRATING $30 MILLION RESCUE OF FIRST RESPULIC BANK: REPORT

Since Silicon Valley Bank collapsed last week, financial markets have been in turmoil. Reports suggested that some of the nation’s most important financial institutions, such as JPMorgan Chase and Citigroup, Bank of America and Morgan Stanley, U.S. Bancorp. Truist and PNC Financial Services, were preparing to each contribute up to $5B to save the San Francisco-based First Republic Bank.

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Janet Yellen, Treasury Secretary to the United States, informed Congress Thursday that the country is in “good standing” “banking system remains sound and that Americans can feel confident that their deposits will be there when they need them.”