Bankster Crime

Exposing Fraud in the Banking System

Banks US Dollar

Banks in Trouble: The 25 Largest U.S. Banks Are Seeing the Largest Fall in Deposits in 38 Years With No Signs of Letting Up

image-1

BanksterCrime:

Deposit Declines at 25 Largest Commercial Banks vs All Other Commercial Banks Since April 13, 2022

Deposit Declines at 25 Largest Banks vs All Other Banks Since July 1, 2023

By Pam Martens and Russ Martens: August 7, 2023 ~

Deposits at the 25-largest domestically-chartered U.S. commercial banks peaked at $11.680 trillion on April 13, 2022, according to the updated H.8 data maintained at the Federal Reserve Economic Database (FRED). As of the most current H.8 data for the week ending on Wednesday, July 26, 2023, deposits stood at $10.709 trillion at those 25 commercial banks, a dollar decline of $970 billion and a percentage decline of 8.3 percent.

Equally noteworthy, the decline shows no signs of letting up. According to the FRED data, between July 5 and the most current reading on July 26, the 25 largest U.S. banks shed $174 billion in deposits.

Despite all of the misleading news reports about depositors seeking out the perceived safety of the largest banks since the banking crisis in the spring, it’s actually been the smaller banks that have staged a comeback on growing deposits since the week of April 26. (See chart above.)

As of March 31 of this year, according to FDIC data, there were a total of 4,096 commercial banks in the U.S., meaning that if you segregate the 25 largest banks, that leaves 4,071 falling into the H.8 category of small, domestically chartered commercial banks.

This breakdown does not give the American people a quick pulse beat on the dangers lurking in the U.S. banking system – a system that imploded in 2008 and was on its way to imploding again this spring until the Fed stepped in with another bailout program. In the span of seven weeks this spring, running from March 10 to May 1, the second, third, and fourth largest bank failures in U.S. history occurred. In order of size, those were: First Republic Bank (May 1), Silicon Valley Bank (March 10) and Signature Bank (March 12). The largest bank failure in U.S. history, Washington Mutual, occurred in 2008 during the financial crisis.

Because there are only four domestically-chartered commercial banks in the U.S. with more than $1 trillion in deposits – JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup’s Citibank – it behooves Americans to closely monitor what is happening at these four banks, which hold such a highly concentrated share of the banking system’s deposits and assets. That is especially true given that one of those four banks, Citigroup, blew itself up in 2008 and received the largest Fed and Treasury bailout in U.S. banking history.

Given this history, it would make far more sense for the Fed to provide this deposit data in the following breakdowns: deposits at mega banks with more than $1 trillion in deposits; deposits at large banks with $200 billion to $1 trillion in deposits; and deposits at small and medium banks with less than $200 billion in deposits.

Monitoring what is going on at these four behemoth banks should make nightly network news and the front pages of newspapers – but rarely does. This lack of media attention allows a five-count felon bank like JPMorgan Chase to continue its serial crimes while simultaneously getting bigger. JPMorgan Chase was allowed by federal regulators to gobble up the failed First Republic Bank this year, despite the fact that JPMorgan Chase is currently being credibly charged in federal court by the Attorney General of the U.S. Virgin Islands with “actively participating” in Jeffrey Epstein’s sex-trafficking of underage girls for more than a decade.

What could be more damaging to a mom and pop bank’s reputation, with more than 5,000 Chase Bank branches dotting the landscape across America, than credible charges from the Attorney General of the U.S. Virgin Islands that JPMorgan Chase sold out young girls as sex slaves for more than a decade in order to get wealthy client referrals from Jeffrey Epstein?

The Eleventh Circuit Court of Appeals called what the U.S. Department of Justice allowed to happen to these girls “beyond scandalous” and “a national disgrace.” And yet, the U.S. Department of Justice has left it to the Virgin Islands to bring civil charges while it remains missing in action on bringing criminal charges against JPMorgan Chase.

Allowing a bank with this serial history of outrageous crimes to get even bigger and more dangerous did not escape the attention of Senator Elizabeth Warren. On May 17, Warren sent a letter to federal regulators pointing out the problems with the JPMorgan Chase/First Republic deal. Warren wrote:

“…it resulted in a $13 billion cost to the Federal Deposit Insurance Fund – which will ultimately be passed on to ordinary bank consumers across the country – and made JPMorgan, the nation’s biggest bank, even bigger. JPMorgan will also record a $2.6 billion gain from the deal…”

Warren’s letter also noted the following:

“Under the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, a bank holding company may not consummate a merger that would result in the bank holding more than 10% of the nation’s total deposits – a standard that JPMorgan already exceeds. However, because Riegle-Neal includes an exception for failed banks, the OCC has indicated that it did not need to take any action because the statute automatically provides a waiver. Separately, this merger required approval under the Bank Merger Act, which was granted by OCC. In its May 1 letter approving JPMorgan’s acquisition of First Republic, the OCC concluded that ‘The Transaction does not increase risk to the stability of the United States banking or financial system as it facilitates the orderly resolution of an insured depository institution in default,’ though it provides little detail about its analysis.”

There is a very compelling argument to be made that the JPMorgan Chase/First Republic Bank combination did, indeed, “increase risk to the stability of the United States banking or financial system,” because federal regulators had already assessed JPMorgan Chase to be the nation’s riskiest bank. (See Federal Data Show JPMorgan Chase Is, By Far, the Riskiest Bank in the U.S.)

Day-Traders Send US Producer Prices Soaring In July

By StevieRay Hansen | August 11, 2020

US Producer prices were expected to rise MoM following four declines in the last five months and they did, rising 0.6% MoM (double the expected 0.3% MoM rise). However, this was not enough to unwind the annual deflationary print (PPI -0.4%…

S&P Futures Hit All Time Highs On Stimulus, Vaccine Hopes; Gold, Silver Tumble

By StevieRay Hansen | August 11, 2020

S&P 500 futures hit a record high as investors shrugged off continuing U.S.-China tensions and instead focused on news of an approved, if largely unclear, Russian vaccine, and more stimulus optimism as President Donald Trump said he’s considering a tax…

Nasdaq Tumbles Into Red, Erases Vaccine Spike As ‘Memo Meltdown’ Continues

By StevieRay Hansen | August 11, 2020

All major US equity indices spiked in the early hours overnight on the back of optimistic vaccine headlines from Russia. However, while Russell 2000 futures are holding gains up over 1%, Nasdaq has tumbled into the red as the last few…

The Economy Is Mortally Wounded

By StevieRay Hansen | August 11, 2020

A fully financialized, totally debt and speculation-dependent economy is terminal once leverage and debt stop expanding exponentially. We all know the movie scene in which the character is wounded but dismisses it as no big deal, and then lurches into…

Morgan Stanley Sounds The Alarm On Record High Bond Duration, Is Starting To Buy Bond Volatility

By StevieRay Hansen | August 10, 2020

You Have More Duration than You Think 2020 has seen a pandemic inflict enormous human and economic cost. In 2Q, the global economy contracted by the largest amount on record and, as autumn approaches, major questions around returning to school,…

Another Bank Bailout Under Cover of a Virus

By StevieRay Hansen | August 9, 2020

Bulls Charge To All-Time Highs As discussed previously in “Insanely Stupid,” we noted the market remained confined to its consolidation channel, but the bullish bias was to the upside. “While the market has not been able to push above the recent July…

Russia-China “DE dollarization” Reaches “Breakthrough Moment” As Countries Ditch Greenback For Bilateral Trade

By StevieRay Hansen | August 7, 2020

Late last year, data released by the PBOC and the Russian Central Bank shone a light on a disturbing – at least, for the US – trend: As the Trump Administration ratcheted up sanctions pressure on Russia and China, both…

“World On Verge Of Spinning Out Of Control”

By StevieRay Hansen | July 30, 2020

Financial writer John Rubino says gold is at new all-time highs, silver is vaulting upward and there is no end in sight for the massive money printing around the world.  Rubino say’s if you look deeper, you can see the “real…

It’s Happening Again… Investors Dump Everything ‘China’

By StevieRay Hansen | July 25, 2020

Global stock markets plunged Friday as tensions between the US and China spiral out of control.  Stocks in Hong Kong and mainland China tumbled after Beijing ordered Washington to cease all operations at its consulate in the city of Chengdu. This came days after Washington ordered the Chinese consulate…

Blain: Excess Liquidity Is “Blinding Idiots To Dangerous Reality”

By StevieRay Hansen | July 23, 2020

Bubbles are far more dangerous when they are fueled by debt” “This time it’s different”, is one of the most dangerous beliefs in financial markets. This time, things are different – but for a reason. Global Central Banks have pumped…

Bankster-Crime-Logo-1

 

 

Large-Logo-Menu-1

Beef in Bulk: Half, Quarter, or Eighth Cow Shipped to Your Door Anywhere within Texas Only

We do not mRNA vaccinate our cattle, nor will we ever!

Grass Fed, Grass Finished Beef!

Here is a discount code for HNewsWire readers to get 20 percent off first order:

HNEWS20

From Our Ranch to Your Table

Order Today

 

Revelation: A Blueprint for the Great Tribulation

Bankster-Template-1
Bankster-Template-2

A Watchman Is Awakened

Bankster-Template-3
Bankster-Template-4

Will Putin Fulfill Biblical Prophecy and Attack Israel?

Newsletter

Orphans

Support-Orphans

Editor's Bio

A-Long-Journey-Home

Recent News

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *

In his riveting memoir, "A Long Journey Home", StevieRay Hansen will lead you through his incredible journey from homeless kid to multimillionaire oilman willing to give a helping hand to other throwaway kids. Available on Amazon.