Biggest US Banks See Surge in Deposit Withdrawals

Silicon Valley Bank customers wait in line at SVB headquarters in Santa Clara, Calif., on March 13, 2023. (Noah Berger/AFP via Getty Images)

The United States’ 25 biggest banks saw a $90 billion outflow of deposits in the second week since the Silicon Valley Bank (SVB) collapse, a sharp reversal from the week before, when larger financial institutions absorbed some of the deposits being withdrawn at a record pace from smaller banks.

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