Bank of America and JPMorgan Chase see massive deposit influxes amidst Silicon Valley Bank collapse.

Bank of America has seen an inflow of over $15 billion worth of deposits as Americans move their cash towards "too big to fail" lenders amid fears of a meltdown in the US banking sector. Other large-scale lenders like JPMorgan Chase, Citigroup, and Wells Fargo have also seen substantial increases in deposits. The mass migration to financial giants like Bank of America comes in the wake of last week's swift collapse of Silicon Valley Bank, the second biggest bank failure in US history. Credit Suisse's shares dropped to near-record lows after its largest stakeholder said he would not bolster his investment in the Swiss banking giant.