First Republic Bank is nearing an agreement with some of the largest U.S. banks to stabilize its balance sheet in the aftermath of the Silicon Valley Bank collapse, according to multiple news reports.

The San Francisco-based bank is closing in on a deal to receive up to $30 billion in deposits from Bank of America, JPMorgan, Wells Fargo, Citigroup, Morgan Stanley and other lenders, Bloomberg News reported Thursday.

The proposed bank-to-bank bailout — which reportedly has the blessing of the U.S. government — comes as First Republic Bank faces the threat of an exodus from investors and depositors.

First Republic’s stock fell 66 percent over the last week amid concerns that the bank won’t have enough cash to handle an influx of withdrawals.

First Republic, like Silicon Valley Bank, has used a large chunk of its deposits on long-term investments that have lost value due to interest rate hikes from the Federal Reserve. Around 68 percent of the bank’s deposits are uninsured, according to S&P Global, higher than many of its competitors but lower than Silicon Valley Bank’s 94 percent.

Credit rating agency Moody’s weighed downgrading First Republic this week, noting that the high rate of uninsured deposits could prompt depositors to swiftly move their money elsewhere. 

“If it were to face higher-than-anticipated deposit outflows and liquidity backstops proved insufficient, the bank could need to sell assets, thus crystallizing unrealized losses on its [securities],” Moody’s analysts wrote. 

Bloomberg reported that the largest institutions could provide $5 billion each to First Republic.

The effort to rescue another bank from going under comes as the U.S. banking system faces an apparent crisis of confidence. 

Federal regulators on Sunday guaranteed all deposits at the failed Silicon Valley Bank and Signature Bank in an effort to restore public trust and prevent more bank runs. 

“This week’s actions demonstrate our resolute commitment to ensure that our financial system remains strong and the depositors’ savings remain safe,” Treasury Secretary Janet Yellen told the Senate Finance Committee Thursday.