Still, threats to the banking system have loomed large since a series of U.S. bank failures, that central bank critics have tied to its overzealousness. McClurg noted that banking deposits totaling hundreds of billions of dollars "left the U.S. this year," and that Switzerland, which suffered its own banking crisis in March, resulting in the sale of Credit Suisse to rival UBS, had also seen a significant outflow "to places like Singapore, Dubai, other jurisdictions where they feel like your money is a little safer."
