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First Republic Bank will be downgraded again by S&P Global Inc., days after the ratings firm cut the lender to junk, according to people familiar with the matter.

FDIC Chairman Martin Gruenberg and Federal Reserve Vice Chair for Supervision Michael Barr are scheduled to appear before the House Financial Services Committee later this month to answer questions about the collapse of Silicon Valley Bank and Signature Bank. The hearing will be bipartisan, the committee's Republican chairman and its top Democrat said.

The high-stakes acquisitions of 2008 and subsequent legal liabilities have sapped enthusiasm from many prospective buyers for Silicon Valley and Signature Banks. The Federal Deposit Insurance Corp. may end up having to sell assets piece by piece.

A preliminary injunction in federal district court had put the 2020 rule on hold, and the move will officially reverse it.

If adopted, the proposal from the Conference of State Bank Supervisors would place less stringent rules on the type of financial documents expected from startups, underwriters and brokers.

The technology provider is in the midst of a large reduction in spending including the dismissal of approximately 340 employees.

The division independently manages credit-sensitive loans using automated analysis of factors that could affect processing and return on investment.

Former Treasury Secretary Lawrence Summers said the Federal Reserve shouldn't be spooked into easing its campaign to contain inflation out of excessive concern about a credit crunch in the wake of the recent banking turmoil.

Less than one-third of households would be able to afford 2022's median-priced new home, according to the National Association of Homebuilders.

President Biden asked that Congress pass measures that would expand the Federal Deposit Insurance Corp.'s ability to claw back compensation from the executives of failed banks, among other measures.