According to persons familiar with the situation, the CEO of JPMorgan Chase & Co., Jamie Dimon, is initiating discussions with the heads of other major banks regarding new steps to strengthen First Republic Bank.

Investors worried that the $30 billion invested by six major U.S. banks into the lender would not be sufficient to solve its problems, which caused First Republic shares to decline 46% to $12.41.

According to the WSJ story, the banks are thinking about investing in the First Republic. The idea may entail using some or all of the $30 billion in deposits as a capital infusion.

First Republic and JPMorgan declined to comment on the report. A First Republic representative cited a previous statement in which the bank claimed to be "well-positioned to manage short-term deposit activities". Due to ongoing challenges to the lender's liquidity, ratings agency S&P Global downgraded First Republic to junk status on Sunday.