Economy / FinanceRomeo Full Staff

US Treasury to Borrow $1.1 Trillion in 6 Months, may Trigger Banking Exodus


US Treasury To Borrow $1,100,000,000,000 in Six Months, Analysts Warn Move May Trigger Banking Exodus: Report Alex Richardson June 12, 2023 Analysts say US banks could suffer a massive flight of deposits if the Treasury goes ahead with a plan to restore cash balances by borrowing over a trillion dollars. JPMorgan analysts estimate the US will need to borrow $1.1 trillion in short-dated Treasury bills by the end of the year, reports the Financial Times. Analysts say the higher yields now expected on government debt will suck deposits out of US banks as customers become unsatisfied with the inferior returns offered by their…

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