The Future of Banking: Consolidation and Deposit Fragmentation
TL;DR Summary
The banking industry is expected to see more consolidation in the aftermath of recent turmoil, including government-led acquisitions of Credit Suisse by UBS and much of Signature Bank by New York Community Bancorp subsidiary Flagstar. The Federal Deposit Insurance Corp. is also continuing its efforts to sell fallen SVB Financial. However, consolidation may not happen immediately.
- After the Bank Crisis Clears, Consolidation Looms Barron's
- Fed: Deposits at all U.S. banks steady at $15.26T CNBC Television
- Nearly $100 billion in deposits pulled from banks; officials call system 'sound and resilient' CNBC
- Money market funds, bonds, Bitcoin and gold are drawing cash from banks The Washington Post
- Apps, crypto, and even Starbucks cards: Deposit fragmentation has been on a decade-long mission to bring down banking–and it’s not done yet Fortune
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