New Data Just Released by the Fed: Banks lost $98.4B in deposits from March 8th to March 15th Large Domestic Banks Gained $66.6B Small Domestic Banks Lost $120B Foreign-Related Banks Lost $45.1B Borrowing by Banks increased by $475.1B
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The growth of deposits at large banks is insane because Silicon Valley Bank (though not Signature Bank) is counted as a large bank here. So that means net of withdrawals from SVB, large banks still saw $66.6B in deposit inflows.
@JosephPolitano Dumb question but where did the net go? T-bills?
@JosephPolitano Any way to tell if any banks shifted between the small and large categories?
@JosephPolitano Just wait until we see March 15th to 22nd
@JosephPolitano Where does the net loss of deposits go? Mattresses?