Confidence Will Return to First Republic: RBC's Cassidy

The transcript discusses the challenges banks face in attracting meaningful deposits, particularly focusing on high net worth depositors. It highlights the company's strong financial performance but notes concerns about asset-liability mismatches. The discussion also covers the Federal Reserve's discount window and its impact on borrowing levels, comparing it to the 2008 financial crisis. Finally, it examines deposit trends in regional and small banks, noting that deposits are up despite concerns of outflows.

What is one of the main challenges banks face in attracting deposits?

• Increased competition from fintech

• High interest rates

• Focus on high net worth depositors

• Lack of marketing

What is a major concern related to asset-liability mismatches?

• Higher interest rates

• Deposit outflows

• Increased profits

• Improved credit quality

How do the borrowing levels at the Federal Reserve's discount window compare to past events?

• They are similar to the 2008 crisis peak

• They are at an all-time low

• They are slightly above average

• They are lower than usual

Which banks were primarily involved in borrowing from the Federal Reserve's window?

• Goldman Sachs, Morgan Stanley, and Citibank

• First Republic, Silicon Valley, and Signature

• Chase, Bank of America, and Wells Fargo

• HSBC, Barclays, and Deutsche Bank

What was the trend in deposits for small banks before the crisis started?

• Deposits were fluctuating

• Deposits were decreasing

• Deposits were stable

• Deposits were increasing