U.S. bank deposits dip in latest week

(Reuters) – Deposits at commercial U.S. banks dipped in the week ended April 19, signaling no fresh worries about bank safety of the kind that drove sharp outflows in the week immediately following the collapse of Silicon Valley Bank, data released on Friday by the Federal Reserve showed.

Deposits at large U.S. banks fell to $10.61 trillion from $10.74 trillion a week earlier, on a non-seasonal basis. Deposits at small banks totaled $5.36 trillion, compared with $5.39 trillion.

The seasonally adjusted measure of deposits, which take into account typical outflows of deposits including tax season, rose, suggesting the actual outflow seen at banks may not have been as large as usual.

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