ECB Meets Over Banking Stress as US Rescue Eases Immediate Fears

ECB Meets Over Banking Stress as US Rescue Eases Immediate Fears

European Central Bank supervisors met to tackle growing cracks in the banking system on Friday after a $30 billion lifeline for U.S. lender First Republic Bank (FRC.N) eased fears of its imminent collapse. As reported on Reuters, large U.S. banks on Thursday swooped in to rescue the San Francisco-based bank, which was caught up in…