Depositors yank another $126 billion from US banks

[IroNat]

https://finance.yahoo.com/news/depositors-yank-another-126-billion-from-us-banks-210851940.html

Depositors drained another $126 billion from U.S. banks during the week ending March 22, according to new Federal Reserve data. This time the outflow came from the nation's largest institutions.

Some of this money is flowing to money market funds. Since the beginning of January, investors have poured $508 billion into those funds, according to a research note from Bank of America, the highest quarterly inflow since a peak earlier in the pandemic. Another $60 billion was added to these assets in the past week.