‘Big Banks’ See $63BN Deposit Outflows Last Week, Loan Volumes Continue To Contract
...while ‘Small Banks’ saw inflows.
Tyler Durden
"Despite another rise in banks' usage of The Fed's expensive BTFP bailout facility (to a new record high), and regulators set to force banks to The Fed instead of the FLHB for cheap funds, regional bank shares surged this week as yields tumbled..."
"...On a seasonally-adjusted basis, banks saw a $50BN deposit outflow last week..."
And for a pleasant change, non-seasonally-adjusted bank deposits also saw outflows (of $41BN)...
Bank deposit outflows and money-market fund inflows continue to diverge dramatically..."
"On the other side of the ledger, loan volumes contracted for the second week in a row (large banks -$15.2BN and small banks -$2BN)..."