US banks shaken by biggest deposit withdrawals since 9/11

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

­The first week of January 2013 has seen $114 billion withdrawn from 25 of the US’ biggest banks, pushing deposits down to $5.37 trillion, according to the US Fed. Financial analysts suggest it could be down to the Transaction Account Guarantee insurance program coming to an end on December 31 last year and clients moving their money that is no longer insured by the government.

US banks shaken by biggest deposit withdrawals since 9 11

The program was introduced in the wake of the 2008 crisis in order to support the banking system. It provided insurance for around $1.5 trillion in non-interest-bearing accounts with a limit of $250,000. It was aimed at medium and small banks as the creators of the program believed bigger banks would cope with the crisis themselves.

So the current “fast pace” of withdrawal comes as a surprise to financial analysts because the deposits are slipping away from those banks which supposedly were safe. Experts expected savers in small and medium banks would turn to bigger players come December 31.

There are a number of reasons behind this unpredicted fund outflow. Some experts believe it has to do with the beginning of the year when the money is randomly needed here and there. Others have concluded the funds are getting down to business and being invested.

Another set of data from the US Federal Reserve shows some deposits may have moved within the banking system from one type of account to another.

Source: rt.com

4 Responses

  1. 5 War Veteran says:

    Wait until you see exactly who made the withdrawals. The Banking Elite themselves. It is all a part of their plan to crash the market on purpose.

  2. ARIZONA says:

    HAHAHA,OH, I bet that sorry fagot in the whore house in washington hates me with a passion,and you can bet your ass ,I never VOTED for him,and the really sad thing is,after the recount RON PAUL won by over 50% above and beyond all the other traitors who were running for president,yet americans DON’T CARE THAT THE ELECTIONS WERE RIGGED………..I don’t get it ,are the people that braindead now???????/

  3. ARIZONA says:

    WELL now that you mention it HE did lie about being a christian,and HE did lie about being a fagot,and HE did lie about trying to take the guns,and he did lie about fast and furious in mexico,and he did lie about sandyhook,and HE did lie about the embassey in libya,and HE did lie about BEING BORN IN AMERICA, and HE did lie about going to american colleges to get his education,he went to college in moscow ,russia,and HE did lie about EVERYTHING HE HAS SAID SO FAR,honey get the car keys we got to get to the bank right now…………………

  4. ARIZONA says:

    HAHAHA,yea americans had better get their money out of these criminal banks or lose it,OBAMA has already said it all belongs to him,and he plans to give all the money in american banks to his mother, the queen whore drug dealer of england,but hey ,don’t believe me,wait till you wake up and discover your bank accounts empty,trust me all the screaming and carrying on in the world won’t help get your money back,hahaha,you were warned and you still aren’t paying attention yet….you got a stone cold killer and thief running your country “WHO’S FROM CHICAGO” and you still think he;s going to miss you when he cleans out all the banks in america,stupid,stupid………….I can see the sign now, saying this banks closed,and all your moneys gone,hahaha………………………………….

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