CEOs of major banks gathered in Washington for a two-day meeting.
Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco Bello/File PhotoChief Executive Jamie Dimon met Lael Brainard, the director of the White House National Economic Council on Wednesday, while in Washington this week, according to a person familiar with the situation.
The banks were aiming to work out details for what needs to be done for First Republic within the coming 24 hours, another source said. Major banks and private equity firms have so far balked at offering First Republic the capital infusion it craves for fear of releasing losses on the bank's loan book and investment portfolio amid a rise in interest rates.
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