U.S. Bank Deposits Drop Most Since 9/11 As FDIC Support Ebbs

U.S. Bank Deposits Drop Most Since 9/11 As FDIC Support Ebbs

Rich Clement/Bloomberg

“The bigger banks have to pay FDIC insurance on these deposits plus some of their capital and leverage ratios are adversely impacted,” Morgan Stanley fixed-income strategist Subadra Rajappa said. “Many of the banks don’t want these.”