PNC drains Fed reserves

PNC withdrew $4.7 billion of deposits at the Federal Reserve in the three months to June 30, shrinking its quarterly average balance of central bank cash to $20.7 billion – its lowest since the second quarter of 2014.

The Pennsylvania-based bank stated that the drawdowns were used to fund other investments. Fed deposits at end-June made up 5.4% of PNC’s total assets, down from 6.7% at end-March.

In the period since end-2012, PNC’s Fed deposits have fluctuated dramatically, troughing at 0.4% of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here