Sources familiar with the matter say that major bank CEOs are meeting in Washington for a two day scheduled meeting, which begins Tuesday. The topic of First Republic Bank's future will be discussed.
Sources said that the Financial Services Forum's quarterly meeting will feature Jamie Dimon from JPMorgan Chase & Co. and Brian Moynihan from Bank of America Corp.
On Thursday, large U.S. banks invested $30 billion in First Republic Bank deposits to save the lender that was caught in a wider crisis. This came after two mid-sized U.S. lending institutions collapsed over the past week.
First Republic Bank is one of the banks that has been talking to investment firms and peers about possible deals following the U.S. regulators' takeover of Silicon Valley Bank and Signature Bank this week amid a flight in depositors. Sources have confirmed that First Republic Bank is on the list of potential partners.
Two sources familiar with this matter have previously stated that First Republic has all options available, including a sale or an equity infusion.
According to a source familiar with First Republic's situation, JPMorgan Chase & Co will be advising it on how to raise capital from investors.
According to a source, the banks are working to find details on First Republic's needs within the next 24 hours.