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Depositors withdraw another $126 billion from U.S. banks
By David Hollerith
Yahoo News, Sunnyvale, California
Friday, March 31, 2023
Depositors drained another $126 billion from U.S. banks during the week ending March 22, according to new Federal Reserve data. This time the outflow came from the nations largest institutions.
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The biggest 25 banks lost $90 billion on a seasonally adjusted basis, according to the Fed.
The smaller banks, which suffered massive withdrawals the previous week as regulators seized regional lenders Silicon Valley Bank and Signature Bank, were able to stabilize their outflows. They actually gained back $6 billion on a seasonally adjusted basis.
Total industry deposits fell to $17.3 trillion, down 4.4% from the same week a year ago. That is the lowest level since July 2021. ...
... For the remainder of the report:
https://finance.yahoo.com/news/depositors-yank-another-126-billion-from-us-banks-210851940.html
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