Overview with less click-baity headline: "U.S. banks saw record deposit declines [-2.5%] in Q1 as profits remained steady: FDIC" https://www.reuters.com/marke

Overview with less click-baity headline: "U.S. banks saw record deposit declines [-2.5%] in Q1 as profits remained steady: FDIC" https://www.reuters.com/markets/us/us-bank-deposits-fell-record-pace-while-profits-flat-q1-fdic-2023-05-31/ https://www.reuters.com/markets/us/us-bank-deposits-fell-rec... > "The FDIC said the $472 billion in deposit outflows in the first quarter was the largest it had recorded since it began collecting such data in 1984. The decline was primarily from uninsured funds, as insured deposits actually rose $255.1 billion, or 2.5%, amid the failures of Silicon Valley Bank and Signature Bank." This apparently means there was a 5% drop in the total uninsured funds, meaning likely about one-third of those funds were broken up into cash sweeps (into multiple smaller deposits, each under the FDIC limit for insured deposits)? edit [uninsured funds exodus = 472 + 255 + ? offshored] ?