It’s raining money on Bank of America. Inflows of over $15 billion reportedly seen amid SVB fallout

The closure of three U.S. banks in the space of a week has led to an influx of fresh cash for Wall Street’s biggest institutions, with Bank of America reportedly raking in over $15 billion in customer deposits recently.

The collapse of Silicon Valley Bank SIVB, Signature Bank and crypto-friendly lender Silvergate Bank has apparently rattled customers of many regional and smaller banks, driving them to seek perceived safety in the bigger banks.

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