Russia Today on Nostr: US Banks Report Biggest Capital Outflow In 40 Years Banks in the US saw total ...
US Banks Report Biggest Capital Outflow In 40 Years
Banks in the US saw total deposits decline by a record 2.5% in the first quarter of the year, the Federal Deposit Insurance Corporation (FDIC) reported on Wednesday. The outflow was the largest recorded by the FDIC since it started collecting such data in 1984.
According to the report, US banks lost $472 billion in deposits during the January-March period, marking the fourth consecutive quarter of industry outflows. The FDIC also said that the number of banks on its “problem list” had increased by four to 43, while assets held by banks on that list rose to $58 billion.
FDIC chair Martin Gruenberg warned that the US banking sector continues to face other risks caused by inflation, rising rates, and economic pressure, particularly in areas such as commercial real estate.
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Banks in the US saw total deposits decline by a record 2.5% in the first quarter of the year, the Federal Deposit Insurance Corporation (FDIC) reported on Wednesday. The outflow was the largest recorded by the FDIC since it started collecting such data in 1984.
According to the report, US banks lost $472 billion in deposits during the January-March period, marking the fourth consecutive quarter of industry outflows. The FDIC also said that the number of banks on its “problem list” had increased by four to 43, while assets held by banks on that list rose to $58 billion.
FDIC chair Martin Gruenberg warned that the US banking sector continues to face other risks caused by inflation, rising rates, and economic pressure, particularly in areas such as commercial real estate.
Follow on https://obo.sh/@russiatoday **rt**
#russia #news #freedom