CNBC: “PacWest falls 10% after regional bank discloses deposit outflows, additional liquidity”

More banks are having liquidity issues …

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  • The bank said in a press release Wednesday that it had $27.1 billion in deposits as of March 20, which is down from $33.9 billion at the end of December and from $33.2 billion on March 9.
  • The change appears to have largely come from venture banking deposits, which accounted for a third of PacWest’s deposits at the end of December and now stand at just 24%.
  • The failure of Silicon Valley Bank earlier this month has raised concern about banks with large deposits from companies and wealthy individuals that are above the $250,000 insurance cap

www.cnbc.com/2023/03/22/pacwest-falls-10percent-after-regional-bank-discloses-deposit-outflows-additional-liquidity.html

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h/t dr0id

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