US Bank Deposits Fell $54 Billion In Week Before SVB Collapse
This article is for subscribers only.
Deposits at US lenders continued to slide in the week before three bank failures triggered a bout of global financial turmoil.
Bank deposits fell by $54.4 billion to $17.6 trillion in the week ended March 8, according to Federal Reserve data released Friday. Deposits have declined by some $500 billion from their peak in April last year, a steady drop that’s added to strains in the financial system.