2023-05-19 20:44:46
Deposits at all U.S. commercial banks fell last week and overall credit extended by banks also fell, according to Federal Reserve data released Friday.
Deposits in the week ending May 10 totaled $17.10 trillion on an unseasonally adjusted basis, down from $17.16 trillion the previous week, according to the Weekly Assets Overview and liabilities of the banking system established by the Fed. Deposits, which had fallen sharply following the collapse of Silicon Valley Bank in March, fell at the big banks and changed little at the smaller ones.
Meanwhile, credit extended by banks fell to $17.32 trillion from $17.37 trillion the previous week, due to lower holdings of securities. Loans and leases saw modest declines.
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