- 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.
Large US banks inundated with new depositors as smaller lenders face turmoil
Failure of Silicon Valley Bank prompts flight to likes of JPMorgan and Citi
Madison Darbyshire
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