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deposits

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FDIC: $472 billion in deposits were removed during Q1

Per FDIC The Federal Deposit Insurance Corporation has shared how there were almost half a trillion dollars worth of deposits removed in the first quarter of the year. This was reportedly the largest decline ever seen by the FDIC since 1984, when it started to collect industry data quarterly. This

bank of america

Bank of America benefited from Silicon Valley Bank's collapse as it received over $15 billion in new deposits

Per CNBC TV18 Bank of America is among the entities that have benefited greatly from the collapse of Silicon Valley Bank. The bank received over $15 billion in new deposits, per Bloomberg. Silicon Valley Bank recently collapsed as more users started withdrawing money, and the bank struggled to supply deposits.