US Banks Face Deposit Drop and Pressure to Boost Reserves
TL;DR
The largest US banks are expected to reveal a $521 billion drop in customer deposits from a year earlier, the biggest decline in a decade, with a $61 billion slide in just the first quarter. The drop comes as customers move to products offering higher rates, despite a late influx of cash following a crisis at regional lenders.
Topics:businessfinance#bank-of-america#customer-deposits#finance#jpmorgan-chase#us-banks#wells-fargo
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- Big Banks Earnings Projected to Show $100 Billion in Withdrawals PYMNTS.com
- Big Banks That Shored Up First Republic Pushed to Boost Reserves Bloomberg
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