First Republic Bank gets funding from Fed, JPMorgan

First Republic Bank FRC,
-14.84%
said Sunday it had bolstered its financial position by “extra liquidity” from the Federal Reserve and JPMorgan Chase & Co. JPM,
+2.54%.

In a statement, the San Francisco-based bank said the new funding will bring it more than $70 billion in unused liquidity. “The additional borrowing capacity … further expands, diversifies and strengthens First Republic’s existing liquidity profile,” the bank said.