The large banks that contributed deposits to First Republic could potentially withdraw some of the funds and take equity stakes instead, said a legal expert who declined to be identified. But the person stressed that deposits cannot be converted into equity. The Wall Street Journal reported on Monday that JPMorgan CEO Jamie Dimon is leading talks with the chiefs of other big banks about fresh efforts to stabilize the San Francisco-based bank, citing people familiar with the matter. JPMorgan and First Republic declined to comment on the report. "The market wants a more conclusive resolution for what's going to happen to First Republic and the only way out of that is some sort of asset sale," said Matt Orton, chief market strategist at Raymond James Investment Management. First Republic's stock market value has collapsed by over 80 per cent in the past 10 trading sessions due to fears of a bank run as a large proportion of the lender's deposits are uninsured.