Deposits are pouring in at the
Deposits at domestically chartered commercial banks in 2020 rose 5.3% through March 18 -- more than triple the increase from a year earlier, according to data released Friday by the Federal Reserve. The year-ago data counts deposits made through March 27. Driving the gains are the 25 largest banks, which have gained $500 billion in deposits since year-end.
“Goliath is winning when it comes to a potential crisis such as this because there’s a flight to quality,”
Citigroup Inc. Chief Financial Officer
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