Large US banks loaded up on cash and cash equivalents in the first quarter of the year, adding $161 billion to reach a total $2.25 trillion – a 7.7% rise on the previous quarter. This was the first such rise since Q3 2021.
Truist’s cash reserves rose by 76%, the highest proportional increase among the 14 banks analysed by Risk Quantum.
The next biggest rise was at Bank of America – its cash pile swelled by 63%, taking the lender to its highest cash holdings in at least two years. In absolute
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