Banking Monitor
Report Date: 22nd May, 2023 Since the beginning of the current crisis, bank deposits have fallen $390bn, while borrowing from the Fed and other sources has risen $430bn. Borrowing from the Fed’s facilities has stopped for now. Flows into money market assets have risen $450bn. Bank credit growth has slowed from 11% yoy at the beginning of 2023 to 8% yoy now. Small and regional banks stocks remain near all-time lows; and the bond yield curve remains heavily inverted. So stress remains.
To read the full report - Login or Subscribe
SUBSCRIBE