Call it a reverse run on the bank.
Companies and consumers flooded US banks with a record $1tn of deposits in the first quarter, when markets went haywire and America went dark to stop the spread of the new coronavirus.
Investment Banking
Biggest US banks get even bigger after flood of deposits
JPMorgan, Bank of America, Wells Fargo and Citigroup benefitted as companies and consumers put $1tn into banks in the first quarter
