US authorities plan to do so give Bank of the First Republic FRC more time to build up its balance sheet and has yet to decide what support, if any, to give to the troubled lender Bloomberg.

Expanding the Federal Reserve’s supply is one of several options being considered at this early stage, the publication reported, citing people familiar with the situation.

While any changes to the Federal Reserve’s liquidity offerings would apply to all eligible users, the adjustments could be designed to ensure First Republic would benefit from the changes.

Analysts and watchdogs reportedly consider First Republic stable enough to function without immediate intervention; However, the company and its advisers are trying to work out a deal to shore up its balance sheet.

Though First Republic is struggling with its balance sheet, it has the resources to meet customer needs while it seeks solutions, sources told Bloomberg.

Also read: First Republic bank rescue deal may depend on government getting in the picture: report

The news comes amid reports that First Republic recently paid its founder James Herbert and his family millions of dollars.

In 2021, Bank reportedly paid Herbert $17.8 million, more than most CEOs of similarly sized banks, the company said Wall Street Journal. This year, the CEO of Bank of New York Mellon Corp BK was paid $9.3 million, and the CEO of Silicon Valley Bank received $9.9 million. In fact, Herbert’s salary that year was closer to the salaries of the CEO of U.S. Bancorp USBwho was paid $19.1 million, and the CEO of Citigroup Inc Cwho was paid $20.5 million.

The Wall Street Journal also reported that in 2021, Herbert’s brother-in-law earned $2.3 million from consulting work at the bank. First Republic also paid Herbert’s son $3.5 million to oversee a lending unit at the bank, according to public disclosures made by the bank during its annual filings.
When asked about payments…