Deposits boosted top US banks’ short-term funds in 2020
Unsecured funding from outside the financial sector increased 22% to $934.6 billion
Deposits made up a larger portion of the eight US global systemically important banks’ (G-Sibs) short-term wholesale funding (STWF) at end-2020 then the year prior, reflecting an influx of cash from financial and non-financial clients in the wake of the coronavirus crisis.
As of Q4 2020, the G-Sibs reported an aggregate $5.69 trillion of STWF, up 7% on Q4 2019. However, borrowings classified as ‘retail brokered deposits and sweeps’ surged 29% over this period, to $800 billion. These now
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