Low Interest Rates No Concern: Bank Deposits Soar To Record Levels

September 18, 2011 2:43 pm

Here is an equation we couldn’t understand – with interest rates for bank deposits at near all time lows, we spotted this today:

“Americans are pumping money into bank accounts at a blistering pace this year, sending deposits to record levels near $10 trillion …

In the last three months, accounts at U.S. commercial banks have increased $429 billion, or 10%, almost double the increase for all of last year.”

Statistics Source: CalculatedRiskBlog

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