Well, First Republic is putting on brave face, saying they have $60 billion of liquidity, and that they will be honoring all the wires of the people fleeing the bank tomorrow.

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Thats what you say right before you stop honoring withdrawals.

Maybe. Or they're telling the truth.

It is true, right until it’s not true.

The $60+ bill untapped line of credit from FHLB is real.