Article Image

IPFS News Link • Central Banks/Banking

America's Biggest Banks Experience Massive Withdrawals


Between the collapse of SVB over March 10 weekend and March 22, domestically chartered  banks in the United States lost a total of roughly $213 billion in deposits as skittish savers rushed to withdraw their money, according to the latest seasonally adjusted Federal Reserve figures on deposit outflows.

But while the first week following the failure of SVB saw a record drop of $196.4 billion in deposits in smaller banks—defined as ones smaller than the top 25 in terms of assets—the latest week saw a reversal.