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Turmoil hit the midmarket banking sector a little more than a year ago, leading to the collapse of several banks and corporate trepidation about the risks their banking counterparties pose.

Today, the sector has largely stabilized. Still, as the Association for Financial Professionals (AFP) found late last year, many treasury teams are moving their cash away from bank deposits and into T-bills and government or Treasury money-market funds (MMFs). Other organizations seem to be moving funds away from small and midsize banks and into the largest institutions, as banking activities go increasingly digital.

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