BREAKING: Truist plans ‘sizable’ layoffs; target of cuts uncertain t.co/S94qKp2qzt
— Financelot (@FinanceLancelot) September 11, 2023
Banks in the US just saw their biggest weekly deposit outflows since the collapse of SVB.
Total bank deposits (on a seasonally-adjusted basis) plunged by $70 billion last week alone.
This puts bank deposits at their lowest levels since May.
At the same time, usage of the Fed's… pic.twitter.com/6FXKoPwmDI
— The Kobeissi Letter (@KobeissiLetter) September 11, 2023
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