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US Bank Deposits Decline by Most in Nearly a Year

  • Deposits declined more than $98 billion in week ended March 15
  • The decline is entirely due to a slump at smaller US banks
Updated on

Deposits at US lenders posted the biggest decline in nearly a year during the week when multiple bank failures triggered the latest bout of global financial turmoil.

The decline was entirely due to a record plunge in deposits at smaller institutions.