The banking sector is turbulent after the recent collapse of Silicon Valley Bank and Signature Bank, leading to heightened monitoring of national banks by the US Office of the Comptroller of the Currency. This turbulence has been felt viscerally by First Republic Bank, as their credit rating has been downgraded by both Fitch Ratings and S&P Global Ratings on fears of potential cash pulls from depositors. Consequently, in the hope of providing a lifeline for the beleaguered lender, the US's biggest banking titans have banded together.

JPMorgan Chase, Citigroup Inc., Bank of American Corp., Wells Fargo & Co., Morgan Stanley, Goldman Sachs Group Inc., U.S. Bancorp, and PNC Financial Services Group Inc. are all considering various forms of capital raises to buoy the First Republic Bank. If action is not taken, egg prices, which rose sixty percent in the last year, may