Deposit Outflows

Apollo Chief Economist

Today at 4:15 pm, we get data from the Fed showing what happened to deposits and lending in small banks the week after SVB went under. The weekly H8 data can be found here, and it shows that deposits were already declining for both small and large banks in the weeks leading up to SVB’s failure, see chart below. Once the data is out we will update our weekly banking sector chart book and send it out over the weekend.

Deposits have been declining in large banks since the Fed began to raise rates in March 2022
Source: Federal Reserve Board, Haver Analytics, Apollo Chief Economist

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