Big US Banks See Surge in Deposits Amid Smaller Lender Turmoil
TL;DR
US consumers have deposited billions of dollars into large banks such as JPMorgan Chase, Bank of America, and Citigroup after the collapse of Silicon Valley Bank, causing concerns over the financial health of smaller regional lenders. Moody's has changed its outlook on the US banking system to negative from stable due to the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank, Silvergate Bank, and Signature Bank. Shares of US regional banks have slumped on fears of possible bank contagion following the collapse of Silicon Valley Bank and Signature Bank.
- U.S. banking behemoths attract flood of deposits after SVB collapse -sources Reuters.com
- BofA Gets More Than $15 Billion in Deposits After SVB Fails Bloomberg
- How JPMorgan Maneuvered During the Fall of Silicon Valley Bank The Information
- Large US banks inundated with new depositors as smaller lenders face turmoil Financial Times
- JPMorgan Chase, Bank of America, Citigroup Rake in Deposits Bloomberg
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