US Bank Deposits and Lending Plummet Amid Turmoil.

Deposits at US banks fell by $125.7 billion in the week ended March 22, marking the ninth-straight period of declines, according to data released by the Federal Reserve. Lending also declined by $20.4 billion, the most since June 2021, due to a decline in commercial and industrial loans. The report includes the first two weeks following the demise of Silicon Valley Bank, and it will take time to assess the full impact of the ensuing financial turmoil and outflow of deposits from mid-size and small banks.