- PacWest Shares Crash After Reporting Deposit-Flight Accelerated Last Week
by Tyler Durden, https://www.zerohedge.com/
Despite all the protestations from talking heads, it appears the reality is that the US bank deposit run is far from over. Just as we warned on Friday – where non-seasonally-adjusted deposits tumbled…
Now a new filing from embattled regional bank PacWest shows that deposits declined about 9.5% during the week ended May 5, with a majority of that decline occurring on May 4 and May 5 after the news reports on the afternoon of May 3.