Bank of America suffered outflows of deposits.
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B of A lost $1.6 billion in passbook and other basic deposits in its most recent quarter, according to bank filings with regulatory agencies. The 3.7% decline in basic deposits to $42.2 billion suggests that the prolonged financial troubles at California’s largest bank might be affecting customer confidence, one banking analyst said. Bank of America’s share of the basic, or “core,” deposits among the five major California banks fell from 44.4% to 42.7% during the quarter, which ran from June 30 to Sept. 30.
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