FT: Investors withdrew $165 billion from US banks in March
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The British newspaper Financial Times published an article in which it is reported that since the beginning of March, investors have withdrawn $165 billion from the six largest US banks amid the bankruptcy of Silicon Valley Bank (SVB) and Signature Bank.
Funds were withdrawn from banks such as Citigroup, Morgan Staney, Bank of America, Goldman Sachs, JPMorgan Chase and Wells Fargo. As a result, they lost 13% of the market value.
The publication believes that the withdrawal of funds occurred due to investors’ fears of falling profitability of banks against the backdrop of higher interest rates on deposits and more stringent regulation of the financial sector.
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