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The Battle for Retail Banking Deposits Goes Beyond High Rates
Gone are the days of ultra-low interest rates when generating deposits and making loans was easy. Today, small and mid-sized financial institutions are battling for retail deposits after recent bank failures spurred a massive exodus of funds to larger players.
In fact, a report by S&P Global Market Intelligence noted that several hundred banking institutions, including a handful of large ones, are paying over 4% and even as much as 5% on certificates of deposit amid a general increase in reliance on CDs and increasing thirst for deposits.
My guest on the Banking Transformed podcast is Adam…
The skinny
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