US Banks' Domestic Deposits Tumble For Second Week In A Row

Money, Piggy Bank, Coins, Finance, Save, Pig, Euro

Image Source: Pixabay

Money market funds saw a very small net outflow (-$2.2BN) last week, leaving them still just shy of the record high...

Source: Bloomberg

On the bank side of the savings world, total deposits (SA) rose $17.5BN to its highest since Sept 2022...

Source: Bloomberg

On a non-seasonally-adjusted basis, total deposits jumped a huge $148BN (reversing the prior week's $133BN deposit decline)...

Source: Bloomberg

Rather oddly, excluding foreign deposits, domestic US banks saw a $22BN net deposit outflow last week on an SA basis during the week-ending 10/30 (but a $113BN inflow on an NSA basis)...

Source: Bloomberg

On an NSA basis, Large banks saw $86BN inflows and Small banks $27BN inflows. However, on an SA basis, large banks saw $21BN outflows and small banks $1.5BN outflows.

Interestingly, loan volumes shrank at small banks but surged for large banks...

Source: Bloomberg

Finally, bank deposits at the Fed rose last week (and so did US equity market capitalization to a new record high)...

Source: Bloomberg

Will this ever recouple?


More By This Author:

Americans Have Burned Through Their Pandemic Savings
S&P Futures Extend Gains As Trump Trades Cool
How American Households Have Changed Over The Last 65 Years

Disclosure: Copyright ©2009-2024 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with