Pacwest shares slump as US lender moves to boost borrowing capacity

Shares of Pacwest Bancorp slumped 25 per cent premarket on Thursday as the bank pledged additional assets as collateral to increase its borrowing capacity under the US Federal Reserve’s discount window and said it had $15bn (£11.9bn) of immediately available liquidity. The lender pledged an additional $5.1bn of its loans to the central bank on [...]