U.S. bank deposits fall for third week, loans remain largely flat

Binance News · 2023-05-20T02:34:14.000Z

Deposits at U.S. banks fell for a third straight week to their lowest level in nearly two years, extending a year-long decline as clients continue to turn to money market funds for higher returns. Loans were essentially flat. Data released by the Federal Reserve on Friday showed that commercial bank deposits fell by $26.4 billion to $17.1 trillion on a seasonally adjusted basis in the week ended May 10. The decline was concentrated among large banks. Unadjusted deposits fell $57 billion after rising $66.5 billion the previous week. Commercial bank loans fell $3.3 billion on a seasonally adjusted basis. Unadjusted loans and leases fell $17.4 billion. (Financial Associated Press)

U.S. bank deposits fell for a third straight week to their lowest level in nearly two years, extending a year-long slide as customers continued to turn to money market funds for higher returns. Loans were largely flat.
Data released by the Federal Reserve on Friday showed that commercial bank deposits fell by $26.4 billion to $17.1 trillion in the week ended May 10, adjusted for seasonal factors. The decline was mainly concentrated in large banks. Unadjusted deposits fell by $57 billion, up $66.5 billion the previous week. Commercial bank loans fell by $3.3 billion, adjusted for seasonal factors. Unadjusted loans and leases fell by $17.4 billion. (Cailian News Agency)