Deposits at U.S. commercial banks rose near the end of March for the first time in about a month after two of the largest U.S. banks failed, according to Federal Reserve data released on Friday.
The data showed deposits at all commercial banks rose to $17.35 trillion in the week ended March 29, on a non-seasonally adjusted basis, from a downwardly revised $17.31 trillion a week earlier.
It was the first increase since the start of March since a record flight of deposits triggered by the collapses of Silicon Valley Bank and Signature Bank toward the middle of last month.
Previously, $360 billion what been withdrawn from banks across the country in the past month alone, making it the fastest withdrawal of funds from commercial banks in U.S. history, according to data from the Fed….