A United States official has said that the deposit outflows that left many regional banks reeling in the wake of Silicon Valley Bank’s failure had slowed and in some cases reversed, even as investors were trying to ascertain whether the crisis was contained.
Shares of regional banks such as First Republic Bank, PacWest Bancorp and Western Alliance Bancorp have plunged since the banking crisis started on March 8 with the collapse of Silvergate Capital Corp and intensified as US regulators took over Silicon Valley Bank and Signature Bank.
