After studying the threads of the Federal Reserve data that was just provided, Neil McCoy-Ward amended his former premise that all monies were flowing from small banks to major banks. He presented numbers demonstrating that deposits at JPMorgan Chase, Wells Fargo, and Bank of America plummeted by $465 billion year on year, more than doubling the total of all 4,000 small banks combined. As a result, all of the money that poured out of tiny banks was doubled, and the same was true for the money that poured out of major institutions. Despite this, he argues that the large banks are still too big to fail and that all he needs to do now is revise his prior account because he didn't have the data at the time. He explains that regardless of asset type, there is always a sale for every buyer.
Further examination finds that the three largest banks in the United States, JPMorgan Chase, Bank of America, and Wells Fargo, accounted for 72 percent of the overall decline in the 25 largest banks, or $184 billion, $118 billion, and $465 billion, respectively. This shows a substantial outflow of funds from large banks.
Furthermore, the big banks in the United States are facing billions in additional FDIC charges as a result of Silicon Valley Bank's failure. The FDIC has indicated that its fund is nearly depleted and that the major banks must replenish it; however, the major banks are unwilling to do so because tiny banks are not obligated to contribute.
Furthermore, when it comes to digital money, the Bank of England has stated that it is not there to save the current financial system. They have no method of salvaging the current financial system if it fails or something genuinely terrible occurs to it. This ambiguity raises concerns about how major banks will handle outflows, which could have an impact on commercial banks' viability. It is unclear whether the impact of megabanks on the financial landscape will continue to be questioned.
Finally, the new Federal Reserve data demonstrate that small bank withdrawals to large banks are more convoluted than previously thought. It is critical to rectify Neil McCoy-Ward's earlier assumption about the flow of finances. The three largest banks, JPMorgan Chase, Bank of America, and Wells Fargo, are substantial contributors to the outflow. The future of commercial banks is uncertain, and the impact of megabanks on the financial landscape will be discussed indefinitely.
The article was proofread by ChatGPT.
Source:
Neil McCoy-Ward, 12 May 2023, "LEAKED! Banks Raise The Alarm… (Where Did All The Missing Money Go?)",