Small US Banks Suffer Biggest Deposit Outflows Since SVB Crisis, Money-Market Inflows Soar

Last week saw the magic of The Fed’s “seasonal adjustments” turn a $66BN outflow into a $41BN deposit inflow for domestic banks. With money market fund inflows accelerating and usage of The Fed’s emergency funding facility at a new record high, who knows what imaginative gifts the clever people at The Eccles Building will drop […] Source