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What Rate Works?
Created by m.moebs on 7/24/2023 7:40:19 PM

The key to deposit pricing is the uniform movement of all deposit services simultaneously – read report below.
This report needs to be paired with M$’s report last week: “Money Hikes Rates”
Your thoughts and comments are needed and welcomed.
Semper, Mike

Deposits are Shrinking but Deposit Rates are Expanding
“The price of deposits has been very volatile in the COVID era and is extremely competitive.” Michael Moebs, Economist & Chair of Moebs $ervices, LLC (M$) a Financial Service Research Firm.

Lake Forest IL (July 23, 2023) The competition for deposits is at an all-time historical high. As Chair Powell keeps reducing the supply of money, the price of deposits skyrockets; examples:
Chase Bank, the largest financial institution (FI) is offering 4.00% on CDs <$100,000 on terms up to 6 months. 
Ally Bank ($186 Billion Assets) is offering 4.15% on Money Market Deposit Accounts (MMDAs) for $1 or more. 
Walmart is offering up to 5.00% on Savings Accounts <$100,000.
Boeing Employee Credit Union ($29B Assets) is offering 4.00% on Checking Accounts up to $500.




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