Broker Check

US Banks Flush with 2 Trillion Dollars in Cash

On June 23, 2020

An “eye-popping” $2 trillion in cash has been stashed in deposit accounts at U.S. banks since the COVID-19 pandemic first hit the country in January.1

This surge of money into banks has no precedent in history.

Several factors have contributed to the cash surge, including $600 billion in government-sponsored loans to small businesses, direct checks to individuals, and expanded unemployment benefits. Additionally, Americans have had fewer options for spending their money while on lockdown.

Want to read the rest of this newsletter?

Input your information below and we’ll get it sent straight to your inbox. In the Additional Info field, please include the title of the newsletter you're requesting.

Thank you!
Oops!