Bank Deposit Statistics: U.S. Bank Deposits Hit USD 10 TrillionAugust 26, 2011 2:43 am
We have spotted multiple stats on U.S. Banks before – we spotted this today:
” Americans have more money saved up in bank accounts than ever before.
Deposits in FDIC-insured banks climbed $343 billion in the first half of the year to an all-time high of $9.8 trillion, according to Market Rates Insight, which tracks bank pricing.
Funds stored in CDs, which holders don’t have access to until a specific date, fell $94 billion to $1.9 trillion in the six months ended June. Meanwhile, balances of liquid accounts, like money markets and savings accounts, jumped by $446 billion to $6.3 trillion.
More businesses have also been shifting to retail consumer deposit accounts, with consumer balances making up 90.1% of total deposits as of June, Market Insights reported. While retail consumer deposits rose by $382 billion in the first half of the year, business deposit balances slipped $29 billion. ”
Statistics Source: CNN Money