Deposit Drain from Smaller Banks Slows as U.S. Bank Deposits Remain Steady
The surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo amid fears over the stability of regional lenders has slowed to a trickle in recent days. Uncertainty caused by the collapse of Silicon Valley Bank earlier this month triggered outflows and plunging share prices at peers including First Republic and PacWest. The situation began improving around March 16, according to people with knowledge of inflows at top institutions.