Charles Schwab sees significant inflows and stock recovery after SVB panic.

1 min read
Source: Markets Insider
Charles Schwab sees significant inflows and stock recovery after SVB panic.
Photo: Markets Insider
TL;DR Summary

Charles Schwab clients poured $4 billion into the firm on Friday, double the daily inflows of about $2 billion that Schwab has been averaging so far this month. CEO Walter Bettinger said the company's brokerage and banking operations are separate and both well capitalized. He added that Schwab's 12-month liquidity level was equal to nearly the entire banking operation's deposits, or about $280 billion. Bettinger also bought 50,000 shares of Charles Schwab on Tuesday for his personal account.

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