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Outside of the mortgage stats, the retail deposit volumes stats on the CBI website are also interesting.
- The amount of money in instant access accounts (which include current accounts) is on a constant upward curve.
- The amount of money in notice accounts remains static.
- Significant drop in the amount of money in both short dated (under 2 year) and also long dated term deposits.
- Roughly 80% of retail deposits are now in instant access account and notice accounts and 20% in term deposit accounts.
- Clearly reactions to lower rates. People don't feel that it is worth locking their money away at lower term deposit rates.
- With less and less money in term deposits, there is less long term funding via deposits for the banking sector.
Outside of the mortgage stats, the retail deposit volumes stats on the CBI website are also interesting.
- The amount of money in instant access accounts (which include current accounts) is on a constant upward curve.
- The amount of money in notice accounts remains static.
- Significant drop in the amount of money in both short dated (under 2 year) and also long dated term deposits.
- Roughly 80% of retail deposits are now in instant access account and notice accounts and 20% in term deposit accounts.
- Clearly reactions to lower rates. People don't feel that it is worth locking their money away at lower term deposit rates.
- With less and less money in term deposits, there is less long term funding via deposits for the banking sector.
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