CNBC's David Faber said First Republic Bank has a $25 billion hole. He didn't exactly elaborate but I assume that's a liquidity issue or a hold-to-maturity problem, not a loss.
Shares are down 30% in the pre-market.
Faber later added that he was told it has "as much as a $25 billion hole" but that deposit outflows had moderated, though not stopped.
