GnS Economics Newsletter

GnS Economics Newsletter

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GnS Economics Newsletter
GnS Economics Newsletter
The Deposit Stagnation

The Deposit Stagnation

Trust to the U.S. banking system has not returned

Tuomas Malinen's avatar
Tuomas Malinen
Jun 28, 2024
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GnS Economics Newsletter
GnS Economics Newsletter
The Deposit Stagnation
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From Tuomas Malinen’s Forecasting Newsletter.

Issues discussed:

  • Demand deposits have resumed their growth.

  • However, the volumes of retail deposits and especially core deposits have stagnated implying a continuing mistrust to U.S. banks.

  • Everything starts to look like a ‘calm before the (perfect) storm’ for the U.S. and global banking system.

During this week, we’ll concentrate on the U.S. banking system in the June Outlook of GnS Economics. To add to our analysis, I will update the situation with U.S. bank deposits. My analysis shows that trust to the U.S. banking system has not returned, and that banks are likely to be approaching a cataclysmic ‘storm’.

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