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US banks to set aside reserves after shoring up First Republic, sources say

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US banks to set aside reserves after shoring up First Republic, sources say


Banks that contributed the bulk of $30 billion in deposits to First Republic Bank (FRC.N) plan to set aside about $100 million each in first-quarter earnings in case of potential losses, two sources with direct knowledge of the matter said. JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N),…

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