JPMorgan Chase is advising embattled First Republic Bank on strategic alternatives, sources tell CNBC’s David Faber.

First Republic fell sharply once again, while UBS popped after acquiring rival Credit Suisse.

Shares of regional banks ex-First Republic were mostly higher early Monday.

The question of whether the government should (or Congress has the will) to insure every deposit in the U.S. is still in the air.

S&P cut its credit rating to B+ from BB+ on Sunday after first lowering it to junk status just last week.

Bitcoin jumped on Monday as some investors turned to digital currencies amid a crisis in the traditional banking sector.

UBS agreed to buy Credit Suisse as part of a cut-price deal designed to alleviate panic in the banking sector.

Credit Suisse’s largest shareholder confirmed to CNBC that it had suffered a loss of around 80% on its investment.

From Hong Kong to Australia and Singapore, authorities urged that their domestic banking systems were stable.

Credit Suisse had already been battling a string of losses and scandals, and the last two weeks sentiment was rocked again.