First Republic and Credit Suisse shares fall, marking escalation in global bank crisis

In the US, First Republic Bank shares fell 23% despite a $30bn injection. In Europe, Credit Suisse has also lost the market's confidence despite an emergency loan of up to $54bn

US president Joe Biden called for clawing back bank executives' pay and barring bank officials from failed banks. 

The share prices of two troubled banks on both sides of the Atlantic slid again today, Friday, despite receiving billions of dollars in liquidity, marking an escalation in the global banking crisis and prompting calls by US president Joe Biden for tougher actions against bankers.

In the US, First Republic Bank tumbled 23% despite the $30bn (€28.2bn) in deposits injected by Wall St banks that failed to quell investor worries about the beleaguered lender.