"NY Fed Study Reveals Deposit Outflows Concentrated Among Super-Regionals After SVB Collapse"
Deposit withdrawals from US banks following the collapse of Silicon Valley Bank were concentrated in around 30 "super-regional" institutions in the $50 billion to $250 billion range, similar to SVB, New York Fed researchers concluded in a newly released study. Deposits among thousands of "community and smaller regional banks... were relatively stable by comparison" during March, the researchers found, with the largest, systemically important firms receiving the deposits that left the super-regional group. The report's release coincided with the FDIC announcing on Thursday its plan for replenishing its deposit insurance fund, which absorbed at least $16 billion of losses from the recent failures.
