June 5, 2023 (NO COMMENTS)
Time deposits at 22 US banks analysed by Risk Quantum shot up by nearly one-third in the first quarter, bucking a wider trend of declining deposits. Deposits held for a fixed period rose by 32% to $503 billion, while overall deposits dropped by 2.6% to $5.26 trillion. This led to a 2.5 percentage point increase in time deposits as a proportion of total deposits, from 7.1% to 9.6%.
The increase was most pronounced at the 14 smaller banks, where time deposits rose by 36.5% and accounted