Khazen

By Cate Chapman, Editor at LinkedIn News Americans have moved more than half a trillion dollars from smaller and regional banks since the implosion two weeks ago of two West Coast lenders and the emergency takeover in Europe of Credit Suisse, according to JPMorgan data. They’ve opened accounts in banks deemed “too big to fail” — including JPMorgan — as well as in money markets, Treasury bonds and even bitcoin. The massive migration underscores fear about the safety of deposits even as the federal government says it stands ready to back these in case of further bank failures. Citing the collapse of Silicon Valley Bank, 12% of Americans polled by Yahoo News/YouGov said they’ve moved funds from banks, while 18% said they were considering it.