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Friday, January 25, 2013

Americans massively withdraw money from banks

the completion of December 31, 2012 deposit insurance scheme (TAG)

Outflow of funds, experts publications associated with the completion of December 31, 2012 deposit insurance scheme (TAG)

 Clients of the largest U.S. banks this week (from 2 to 9 January) withdrew from their accounts 114.1 billion. This was reported by Bloomberg, citing data from the U.S. Federal Reserve.



According to the agency, capital flight this month was the highest since the terrorist attacks September 11, 2001

The total amount of deposits in the 25 largest financial organizations fell to 5.37 trillion dollars

Outflow of funds, experts publications associated with the completion of December 31, 2012 deposit insurance scheme (TAG). Once in the United States the economic crisis in 2008, the program was introduced, which provides a guarantee for non-interest bearing account in the amount of approximately $ 1.5 trillion.

American Bankers Association and the Independent Bankers of America union tried to achieve continuation of the TAG, to keep the flow of funds.

"We knew that the fund managers will reconsider where they want to keep their money - the interest-free accounts to another bank account or other investments", - said the chief economist of the Association James Chizen Bloomberg. According to him, will have to worry only if outflows continue.

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