U.S. officials are coordinating urgent talks to rescue First Republic Bank as private-sector efforts led by the bank's advisers have yet to reach a deal, Reuters reported. The Federal Deposit Insurance Corporation (FDIC), the Treasury Department and the Federal Reserve are among the government bodies that have in recent days started to orchestrate meetings with financial companies about putting together a lifeline for the troubled lender. The government's involvement is helping bring more parties, including banks and private-equity firms, to the negotiating table. It is unclear whether the U.S. government is considering participating in a private-sector rescue of First Republic. The government's engagement, however, has emboldened First Republic executives as they scramble to put together a deal that would avoid a takeover by U.S. regulators, one of the sources said. First Republic became the epicenter of the U.S. regional banking crisis in March after the wealthy clients it courted to fuel its breakneck growth started withdrawing deposits and left the bank reeling.
