BofA gets $15 billion in deposits amid 'too big to fail' flight to safety

Bank of America soaks up over $15 billion in new deposits as SVB panic sends money flooding into 'too big to fail' lenders

from the sale of a bond portfolio. The bank run that ensued spread fear throughout the banking industry, especially regional lenders.

The massive shift to the banking giants comes despite federal regulators guaranteeing SVB deposits beyond the typical $250,000 limit, raising expectations that all deposits throughout the US financial system will receive similar backing.stock tumbled 20% after a top Saudi backer said more investments would not be coming.

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