Other U.S. regional banks also gained sharply as investors tiptoed back into the battered sector
inched up 2 per cent. Last week, Canada’s Toronto-Dominion Bank called off its $13.4-billion takeover deal for First Horizon, citing regulatory uncertainty.
The sector, however, showed some semblance of stability on Friday, with the KBW Regional Banking index gaining nearly 4.7 per cent. The index is down more than 26 per cent since the beginning of the crisis in March. “Regional bank turmoil has increased at a pace that is disconnected from the reality of the fundamentals.”
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