US authorities focused on stability, First Republic Bank as Fed meets

First Republic, which has lost 80% of its market value this month, is looking at ways to shrink if its attempts to raise new capital fail, three people familiar with the matter said. Shares of First Republic fell 9% in extended trade on Tuesday, having surged as much as 60% at one stage. Scenarios for the bank were being discussed as major bank CEOs gathered in Washington for a scheduled two-day meeting starting Tuesday, sources familiar with the matter said.