Federal Reserve data: Deposits at US banks rise in latest week

Deposits at U.S. commercial banks jumped last week to their highest since mid-April, Federal Reserve data released on Friday showed, and overall bank credit also rose, Reuters reported.

Deposits in the week ending May 31 rose about $190 billion to $17.29 trillion on a non-seasonally adjusted basis, compared with $17.10 trillion a week earlier, the Fed’s weekly snapshot of the U.S. banking system’s assets and liabilities showed. The gains were mostly at the nation’s top 25 banks, though deposits at smaller banks rose about $45 billion on the week.

Bank credit overall rose to $17.33 trillion, from $17.28 trillion a week earlier.