- Large US banks experiencing influx of depositors from smaller lenders after the failure of Silicon Valley Bank.
- JPMorgan Chase, Citigroup and other large institutions accommodating these requests by expediting onboarding process.
- Emergency measures announced by US government preventing third bank failure for now.
- Depositors moving balances to larger banks and money market funds, especially when exceeding $250,000 threshold.
- Some regional banks' stock prices dropped but recovered in after-hours trading.
Financial Times — World — US Banks and Depositors Influx — Us Banks — Citigroup Inc — Jpmorgan Chase & Co
Large US banks inundated with new depositors as smaller lenders face turmoil
Following the failure of Silicon Valley Bank, large US banks such as JPMorgan and Citigroup are accommodating a significant influx of depositors from smaller lenders.