Total US Commercial Bank Deposits are Down 3.1% Year to Date

Commercial banks are shedding deposits, with total US commercial bank deposits down 3.1% from $17.8 trillion to $17.3 trillion year to date^*. This trend of declining deposits accelerated in March, concurrent with the failures of US regionals Silicon Valley Bank and Signature Bank. While total commercial deposits have exhibited a bounce in the most recent data release, the observed year-to-date reduction in deposits remains substantial.

Source:

St. Louis FRED