Hundreds of billions of dollars in deposits have exited US banks this year as consumers and institutions flock to money market funds to take advantage of the high interest rate environment. New data from the Federal Reserve Economic Data (FRED) system shows deposits in all US commercial banks plunged from $17.736 trillion at the start The post $397,000,000 in Deposits Exit US Banking System in One Year As Money Market Funds Witness Historic Inflows appeared first on The Daily Hodl .