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Too-Big-to-Fail Lenders Rake In Deposits After Three Banks Fail

Bloomberg business news
WATCH: Unrealized losses among US lenders have been growing rapidly under the Fed’s aggressive rate-hike regime, even before the Silicon Valley Bank’s collapse. David Ingles reports.Source: Bloomberg

After the back-to-back collapse of three smaller banks, their biggest US counterparts are seeing a rush of depositors fearful the crisis will spread.

JPMorgan Chase & Co., the largest US bank, alone received billions of dollars in recent days, and Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. are also seeing higher-than-usual volume, according to people with knowledge of the matter. Representatives for the firms declined to comment or didn’t respond to messages.