Deposits at US banks fell sharply and lending declined by the most in nearly two years amid financial turmoil triggered by the collapse of several banks this month.
Commercial bank deposits dropped by $125.7 billion in the week ended March 22, marking the ninth-straight period of declines, according to data released Friday by the Federal Reserve. At domestically chartered banks, deposits fell $84 billion, reflecting a decrease at the 25 largest institutions dropped. Deposits at small banks increased.
Source : US Bank Deposits and Lending Decline During Turbulent Week