Small banks lose 1.9% of their deposits after SVB failure
The numbers: Deposits at small U.S. banks fell by a steep $108 billion, or almost 2%, in the week after the collapse of Silicon Valley Bank, the Federal Reserve reported.Wall Street is watching the Fed report closely to see if a so-called credit crunch... The numbers: Deposits at small U.S. banks fell by a steep $108 billion, or almost 2%, in the week after the collapse of Silicon Valley Bank, the Federal Reserve reported.
Deposits at larger banks rose by $120 billion to $10.8 trillion, indicating that most of the money leaving smaller institutions went to them.
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