120 billion dollar losses of small American banks in one week

According to the economic group Iran is an economist From the Yahoo Finance website, small and medium-sized American banks lost 120 billion dollars of their deposits in just one week; Because unrest has gripped the country’s banking world, and customers are looking for safer havens in its largest financial institutions.

The starting point of this turbulent period was the collapse of Silicon Valley Bank on March 10 (March 19) and Signature Bank on March 12 (March 21), which made customers panic about the possible bankruptcy of other banks.

According to new data from the Federal Reserve, regional and local banks lost $120 billion in the week ending March 15 (March 24); While the 25 largest banks attracted $67 billion in new deposits on a seasonally adjusted basis.

Net outflows from all banks were $98 billion, a 5.8 percent year-on-year decline. The total industry deposits were 17.5 trillion dollars, which was the lowest amount since September 2021.