Wednesday, January 30, 2013 - 7:51 AM

US Banks Shaken By Biggest Fund Withdrawals Since 9/11

US Federal Reserve is reporting a major deposit withdrawal from the nation’s bank accounts. The financial system has not seen such a massive fund outflow since 9/11 attacks.

US banks shaken by biggest fund withdrawals since 9/11 — RT

Shorebreak1,280 posts since
Apr 6, 2010
Rep Points: 4,781

1. Wednesday, January 30, 2013 - 6:35 PM

Very encouraging! Maybe banks will need to entice deposits with attractive interest rates if this continues.

lou351 posts since
Aug 3, 2010
Rep Points: 1,984

2. Wednesday, January 30, 2013 - 7:51 PM

I personally think people are using their savings to pay for items they used to pay for with higher interest rates. This time of the year (after the holidays) people may have more bills to pay also. I don't think it will get us higher interest rates very soon though.

paoli2443 posts since
Aug 10, 2011
Rep Points: 1,758