US banks should disclose significant deposit losses - Bloomberg

April 15, 2023



(RT) βΈ»

Earnings reports likely showing over $500 billion in outflow from major lenders raise new questions about the health of the sector. Banking analysts estimate that JPMorgan, Wells Fargo, and Bank of America have lost $521 billion in deposits over the past year in the sharpest slump in a decade. In the first quarter alone, the drop reached $61 billion as a late influx of cash following a crisis at three US lenders failed to offset the outflow of funds to products offering higher interest rates. In early March, massive deposit runs caused two lenders, Silicon Valley Bank and Signature Bank, to fail within days. A third lender, First Republic, ended up being the recipient of a $30-billion rescue from top Wall Street banks in the form of deposits.

Us

Comments

Related news


France declares a significant police mobilisation

Read more

Bloomberg: US will supply Taiwan anti-ship missiles

Read more

Chinese spacecraft makes a significant lunar discovery

Read more

AI could replace workers for a tech firm, reports Bloomberg

Read more

A hitherto unknown fossil deposit in Wales has been unearthed, revealing early living forms.

Read more

They are waiting in line to meet Xi Jinping. Should America be concerned?

Read more

Brazilian President: US should cease 'encouraging' the conflict in Ukraine

Read more

Media: US regulators have set a deadline for bids on failing banks.

Read more

Russia will start buying yuan again - Bloomberg

Read more

Clinics should be ready for further changes in children's sex, says the hospital director

Read more