Friday, January 25, 2013

RT — US banks shaken by biggest deposit withdrawals since 9/11

US Federal Reserve is reporting a major deposit withdrawal from the nation’s bank accounts. The financial system hasn’t seen such a massive fund outflow since 9/11 attacks.
The first week of January 2013 has seen $114 billion withdrawn from 25 of the US’ biggest banks, pushing deposits down to $5.37 trillion, according to the US Fed. Financial analysts suggest it could be down to the Transaction Account Guarantee insurance program coming to an end on December 31 last year and clients moving their money that is no longer insured by the government.
RT
US banks shaken by biggest deposit withdrawals since 9/11
(h/t Max Keiser)

3 comments:

Dan Lynch said...

I wonder if this has anything in common with Koo's recent claim that Americans are drawing down their assets ?

Ryan Harris said...
This comment has been removed by the author.
Mike Norman said...

Huge decline in gov't spending in Dec and Jan is forcing non-gov't to "dissave."