SVB fallout: JPMorgan, other US biggies flooded with newer clients

As per the report, even US govt's emergency measures to stop the collapse of more banks have not stopped depositors from trying to move their accounts to larger banks or to shift to money market funds

A wave of customers have applied to shift their accounts to large U.S. banks such as JPMorgan Chase & Co and Citigroup Inc from smaller lenders after the collapse of Silicon Valley Bank, the Financial Times reported on Tuesday.

These lenders, including Bank of America Corp, are trying to accommodate such transfer requests by taking extra steps to speed up the normal sign-up process, among other steps, the FT said, citing several people familiar with the matter.

Even the U.S. government's emergency measures to stop the collapse of more banks have not stopped depositors from trying to move their accounts to larger