First Republic shares jump 40% as regional banks try to rebound from Monday’s sell-off - CNBC

Shares of First Republic rose sharply on Tuesday as regional banks attempted to rebound from a deep sell-off, but some of the stocks struggled to hold their ground as the day progressed.

and Western Alliance, which each turned negative briefly in afternoon trading after rising earlier in the session.

Meanwhile, KeyCorp CEO Chris Gorman said on CNBC's " Squawk on the Street" on Tuesday that his bank has not seen significant deposit outflows in recent days and is actually getting cash inflows from retail customers.

However, First Republic's shares came off their highs of the day after S&P Global put the bank's credit rating under review with negative implications, citing volatile deposit flows.

Moody's Investors Service also downgraded its view on the U.S. banking system to negative from stable.

Correction: The Fed on Sunday announced the Bank Term Funding Program.