Massive Outflow: US Banking System Loses $78 Billion in Just One Week

Recent numbers from the Federal Reserve Economic Data reveal that a staggering $78 billion exited American bank accounts from July 5 to the 12.

What Happened: According to the data, after a relatively stable two-week period, an exodus of deposits took place as big banks invested substantial amounts of cash in third-party intermediaries to attract new deposits.

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