US banks launch $30 billion rescue of First Republic to stem spiraling crisis

Wall Street’s giants moved to end the US’s spiraling banking crisis on Thursday by agreeing to prop up troubled First Republic, a mid-sized bank whose shares have been pummeled amid a wider banking turmoil. Bank of America, Goldman Sachs, JP Morgan and others will deposit $30 billion in First Republic, which has seen customers yank their money following the collapse of Silicon Valley Bank (SVB) and fears that First Republic could be next.

tips

stem：n. 茎，vt. 阻止

spiral：螺旋之物；盘旋的

giant：巨人

Wall Stree's giants：华尔街巨头

prop：支撑，维持

pummel：打，揍

turmoil：骚动，混乱

yank：猛拉，撤回