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Over the past two months, bank analysts have slashed their expectations for deposit levels at the biggest banks. The 24 institutions that make up the benchmark KBW Nasdaq Bank Index are now expected to see a 6% decline in deposits this year. Those 24 banks account for nearly 60% of what was $19t in deposits in December, according to the Federal Deposit Insurance Corp.
“This is in no way traditional Fed tightening—and there are no models that can even remotely give us the answers,” JPMorgan Chase & Co. Chief Executive Jamie Dimon wrote in his annual shareholder letter last week.
https://www.wsj.com/articles/bank-deposits-could-drop-for-first-time-since-world-war-ii-11649599205
