Affected by the closure of many banks in the United States, American depositors’ confidence in the banking industry has been shaken, and they have begun to withdraw their deposits from banks in large quantities. The latest data released by the Federal Reserve on the 24th local time showed that in the week ending March 15, U.S. bank deposits lost a total of nearly $100 billion, reaching $98.4 billion, of which small banks lost a total of $120 billion in deposits, while large banks’ total deposits increased.
The Federal Reserve's nine consecutive aggressive interest rate hikes have plunged the U.S. and European banking industries into crisis. Analysts at JPMorgan Chase Bank in the United States previously estimated that since last year, the "weakest" banks in the United States may have lost a total of about $1 trillion in deposits, of which about half of the deposit outflow occurred after Silicon Valley Bank was taken over in March this year. (Planet Daily)