A group of financial institutions has agreed to deposit $30 billion in First Republic in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon. Bank of America , Wells Fargo , Citigroup and JPMorgan Chase will contribute about $5 billion apiece, while Goldman Sachs and Morgan Stanley will deposit around $2.5 billion, the banks said in a news release. Truist , PNC , U.S. Bancorp , State Street and Bank of New York Mellon will deposit about $1 billion each. The deposits would be obligated to stay at First Republic for at least 120 days, sources told CNBC’s David Faber. ... (full story)