(Reuters) – First Republic Bank is most likely headed for Federal Deposit Insurance Corp (FDIC) receivership, CNBC reported on Friday citing sources.
Shares of First Republic were down 19%.
The bank did not immediately respond to a Reuters request for comment.
Earlier on Friday, Reuters reported U.S. officials are coordinating urgent talks to rescue the bank.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)