Small U.S. banks managed to stop hemorrhaging deposits last week, but larger banks saw a bigger outflow of cash in a sign of lingering stress on the...
The numbers: Small U.S. banks managed to stop hemorrhaging deposits last week, but larger banks saw a bigger outflow of cash, new data from the Federal Reserve showed Friday.
By contrast, deposits plunged... The numbers: Small U.S. banks managed to stop hemorrhaging deposits last week, but larger banks saw a bigger outflow of cash, new data from the Federal Reserve showed Friday. By contrast, deposits plunged by a revised $184 billion in the prior week immediately after the collapse of Silicon Valley Bank earlier this month.
Larger U.S. banks, on the other hand, did show a decline in deposits. They fell by $97 billion and gave back most of the increase from the prior week.Investors are storing a record amount of assets in money-market funds, according to separate data from the Investment Company Institute.
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