Deposit outflows at U.S. banks accelerated recently, driven by the larger and smaller commercial financial institutions, according to new data from the Federal Reserve.
For the week ending May 10, total U.S. commercial bank deposits declined by $26.4 billion, or 0.15 percent, to roughly $17.123 trillion, the lowest level since July 2021. That represented the third consecutive week of rising deposit outflows as the fallout from the banking turmoil in early March persists.
