US banks load up on time deposits amid liquidity concerns

Charles Schwab leads charge with fourfold increase

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%.

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