US Domestic Bank Deposits Drop For Second Straight Week
by Zero Hedge
Zero Hedge— US Domestic Bank Deposits Drop For Second Straight Week On the heels of a major deposit outflow the week before, and a huge (record) money-market fund outflow last week, all eyes are back on the banks again on Friday evening to see if this 'flight' continues as Tax-Day drags cash away from its comfy-5%-earnings-spots. On a seasonally-adjusted basis, total US bank deposits declined for the second straight week (though only $2.4BN) after reaching back to pre-SVB levels Source:...
Zero Hedge—US Bank Deposits Suffer Biggest Weekly Decline Since 9/11 As Tax Man Cometh. US Bank Deposits Suffer Biggest Weekly Decline Since 9/11 As Tax Man Cometh It's that time of year again and US bank deposits sure showed it While money-market funds' total assets fell over $100BN, on a non-seasonally-adjusted (NSA) basis, total bank deposits crashed by a stunning $258BN as Tax-Day cometh. That is considerably more than the $152BN decline last year but less than the $336BN plunge in 2022 Source: Bloomberg This makes some sense though as the Treasury Cash...
dailym.ai—US banks shut a total of 36 branches in just one week. US banks notified their regulator of 26 closures and only six openings in a week. TD Bank said it would shut 20 branches, scattered along the East Coast. Has your local branch closed recently? Write to
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