Banking Industry Sees Deposit Surge Following Silicon Valley Bank's Collapse

Bank of America, Wells Fargo, and Citigroup have experienced a significant increase in deposits since the collapse of Silicon Valley Bank, while small and regional banks have suffered deposit outflows. The sum of money plowed into big banks is likely to be in the billions or tens of billions of dollars. Big banks are perceived to be safer due to their larger balance sheets and their role as systemically important institutions. However, the FDIC insures deposits up to $250,000 per bank per borrower, regardless of the bank's size.