U.S. banks’ first-quarter deposit outflows hit record $472 billion – Xinhua English.news.cn

U.S. banks’ first-quarter deposit outflows hit record $472 billion

Overseas Network, June 1stAccording to Reuters, data released by the U.S. Federal Deposit Insurance Corporation on May 31 showed that the U.S. banking industry had a record outflow of deposits in the first quarter, totaling $472 billion.

The FDIC said it was the largest quarterly drop reported since it began collecting data in 1984, and it was the fourth straight quarter in which the industry reported a decline in total deposit levels.

Federal Deposit Insurance Corporation Chairman Martin Grunberg said the U.S. banking sector continues to face significant downside risks, particularly in areas such as commercial real estate, due to inflation, rising interest rates, and slowing economic growth and geopolitical uncertainty. field. (Li Fang from Overseas Network)

Editors in charge: Li Fang, Chen YananReturn to Sohu to see more