Janet Yellen's Comments Fail to Calm Investors as First Republic Stock Remains Volatile
Janet Yellen's Comments Fail to Calm Investors as First Republic Stock Remains Volatile
The collapse of Silicon Valley Bank, in particular, led to a widespread investor sell-off in many community and regional banks, including Growing concerns about the safety of bank deposits have prompted investors to approach community and regional banks with caution.
日益關注銀行存款的安全性，促使投資者謹慎接觸社區和地區銀行。
Recent events, such as the collapse of Signature Bank and SVB Financial Group's (NASDAQ:SIVB) Silicon Valley Bank have raised questions about deposit insurance, prompting U.S. Treasury Secretary Janet Yellen to testify before a U.S. Senate appropriations subcommittee.
最近的事件，如崩潰 簽名銀行 和 SVB 金融集團 (納斯達克:星) 矽谷銀行 提出了有關存款保險的問題，促使美國財政部長 珍妮特·耶倫 在美國參議院撥款小組委員會面前作證。
Yellen said Wednesday the FDIC was not considering providing "blanket insurance" for banking deposits.
耶倫（Yellen）週三表示，FDIC 沒有考慮為銀行存款提供「全面保險」。
The collapse of Silicon Valley Bank, in particular, led to a widespread investor sell-off in many community and regional banks, including $First Republic Bank (FRC.US)$.
特別是矽谷銀行的崩潰導致許多社區和地區銀行的投資者被廣泛拋售，包括 $第一共和銀行 (FRC.US)$。
First Republic shares saw heightened volatility following Yellen's comments, and the situation isn't over just yet for the stock.
耶倫的評論後，第一共和國股票的波動性增加，而股票的情況還沒有結束。
The company's tangible book value is currently far underwater, leaving a capital gap of up to $13.5 billion, according to Bloomberg, which cited Wedbush analysts.
據彭博社（Bloomberg）稱，該公司的有形賬面價值目前遠在水下，留下了高達 135 億美元的資本差距，該公司引述了 Wedbush 分析師。
Although a government-aided deal could potentially save the bank, it is unlikely to benefit stockholders. Wedbush analysts are unable to find a realistic scenario where there is residual value for First Republic common shareholders.
儘管政府資助的交易可能會拯救銀行，但不太可能使股東受益。Wedbush 分析師無法找到第一共和國普通股東剩餘價值的現實情況。
If First Republic's holdings were valued at current market prices, its tangible book value would be negative $73 per share, which means an acquirer would have to deal with a "$13.5 billion capital hole."
如果第一共和國的持股按當前市場價格進行估值，則其有形賬面價值將為每股 73 美元的負值，這意味著收購方將不得不處理「135 億美元的資本空洞」。
The recent injection of $30 billion in deposits from 11 of the largest U.S. banks was only a short-term solution, and a recapitalization of the bank would result in heavy dilution for current holders of common stock.
最近從 11 家美國最大的銀行注入 300 億美元的存款只是一個短期的解決方案，而銀行重組化將導致當前普通股持有人大量稀釋。
Unfortunately, the government's involvement in bank collapses has not been favorable for shareholders or unsecured-debt holders.
不幸的是，政府對銀行的參與崩潰對股東或無抵押債務持有人並不有利。
Yellen made it clear that they are not protected in the event of a takeover. That lack of protection led to bonds issued by First Republic trading at deeply distressed levels. As of Wednesday, its 4.375% subordinated bonds with a 2046 maturity were quoted at 62.5 cents on the dollar.
耶倫明確表示，如果發生收購，他們不會受到保護。缺乏保護，導致第一共和國交易所發行的債券處於嚴重不良水平。截至星期三，其 4.375% 次級債券（2046 年到期日）按美元報價為 62.5 美分。
FRC Price action: Shares of First Republic are trading 4.28% higher in Wednesday's after-market session to $13.90.
財務匯報局的價格行動： 第一共和國的股票在周三的售後市場交易時段上漲 4.28%，至 13.90 美元。