Deposits at U.S. commercial banks rose in early April in a renewed sign of confidence in the banking sector after massive deposit outflows following last month's failure of two large regional banks.
Federal Reserve data released on Friday showed deposits at all commercial banks rose to $17.43 trillion in the week ended April 5, on a non-seasonally adjusted basis, from $17.35 trillion a week earlier.
Small banks were particularly hard hit by deposit outflows after the back-to-back failures, with some depositors shifting cash to larger institutions on worries that accounts with balances exceeding the $250,000 federal insurance limit might be at risk.
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