More banks are having liquidity issues …
- 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
h/t dr0id
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