Deposit outflows at America’s banks accelerated last week, driven by the larger and smaller commercial financial institutions, according to new data from the Federal Reserve. For the week ending May 10, total U.S. commercial bank deposits declined by $26.4 billion, or 0.15 percent, to roughly $17.123 trillion, the lowest level since July 2021. This represented…
Nearly Half of US Citizens Worried Their Bank Deposits Are Not Safe: Survey
May 4, 2023
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Nearly half of Americans are worried that their bank deposits are not safe, which is similar to levels last seen during the financial crisis of 2008–09, a recent Gallup survey has found. In the survey, 48 percent of U.S. adults said they were concerned about their money deposited in banks, with 19 percent saying they…
Bank Deposits Edge Up After Record Withdrawals, Fed Data Show
Deposits at U.S. commercial banks rose near the end of March for the first time in about a month after two of the largest U.S. banks failed, according to Federal Reserve data released on Friday. The data showed deposits at all commercial banks rose to $17.35 trillion in the week ended March 29, on a…
Bank Deposit Bailouts Could Cost Taxpayers Billions
March 29, 2023
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bank depositsBusiness & Marketseconomic policieseconomyFDICinflationInvestmentpersonal financeSecretary Janet YellenSignature BankSVB CollapseU.S. treasury departmentUSUS News
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Following a string of regional bank failures over the past several weeks, bank regulators were quick to guarantee all depositors for the full balance of their bank accounts, even beyond the $250,000 limit set by the Federal Deposit Insurance Corp. (FDIC). At the time, the Biden administration assured Americans that taxpayers would not be on…
Inflows to Money Market Funds Top $280 Billion as Investors Pull Bank Deposits
March 28, 2023
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U.S. money market fund inflows have topped $280 million over the past two weeks, as many investors pull their bank deposits, according to a report. The Financial Times reported that more than $273 billion has flooded into money market funds this month, for the biggest month of inflows since the height of the pandemic in…
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