$197,700,000,000 in Deposit Flight Hits US Banks in Three Months As Billions of Dollars Piled Into Money Market Funds: Report

Depositors are pulling billions of dollars out of the traditional banking system, according to a new report from the Federal Deposit Insurance Corporation (FDIC). The agency’s new quarterly banking profile says domestic deposits decreased $197.7 billion in the second quarter of this year. That’s a 1.1% decline and a reversal from Q1, when US banks […] source: https://dailyhodl.com/2024/10/11/197700000000-in-deposit-flight-hits-us-banks-in-three-months-as-billions-of-dollars-piled-into-money-market-funds-report/