The outflows were all from institutional funds (retail funds saw another inflow)...

Presumably this was driven by tax-extension deadline payments - or else something serious is happening.

Total bank deposits - on a seasonally-adjusted basis - dropped for the second week in a row (-$$8.7BN)...

Non-seasonally-adjusted, total deposits saw inflows for the 3rd week in a row (+$20.6BN)...

Is this the start of a major reversal... or just the one-off tax flows?

Domestically, excluding foreign banks, there were deposit inflows on both an SA and NSA basis...

Which has narrowed the delta between SA and NSA deposit outflows since SVB to just $38BN (the outflows are still over $200BN total)...

On the other side of the ledger, bans increased their lending volumes modestly last week - after 2 weeks of shrinkage - op around $9BN...

The Fed's balance sheet shrank by around $19BN last week, but usage of its emergency funding facility for banks remained at record highs around $109BN...

Bank reserves at The Fed and US equity market appear to be converging back together...

The key warning sign continues to trend lower (Small Banks' reserve constraint), supported above the critical level by The Fed's emergency funds (for now).