Deposit Flights Hit US Banks as S&P Global Declares the Banking Industry ‘Gradually Shrinking’

$174,303,000,000 in Deposit Flight Hits US Banks in Three Months As S&P Global Declares Banking Industry Is ‘Gradually Shrinking’ Henry Kanapi November 11, 2023 New numbers are shedding light on the multi billion-dollar flow of capital out of the US banking system. In a new report, S&P Global says total non-brokered deposits, or funds coming mostly from retail customers, recorded their sixth consecutive quarterly decline in Q3 of this year. The market intelligence firm says non-brokered deposits dropped from $17.430 trillion in Q2 to $17.256 trillion in Q3, representing a decrease of $174.303 billion. Specifically, S&P Global says Citibank, Bank of America,…