First Republic receives $30 billion in deposits from big banks

First Republic Bank branch in Midtown Manhattan in New York City

(Reuters) – First Republic Bank has received $30 billion in deposits from several big banks including JPMorgan Chase & Co, Citigroup Inc and Morgan Stanley, the banks said in a statement on Thursday.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)