Covid-19 and a second quarter 2020 short-term recession have created potential risk in the banking system. Reports on bank financial conditions to be released in November (2020Q3) will further detail this risk. Subscribe to IDC Financial Publishing’s online portal to receive updates. Out of the 1,839 institutions with brokered deposits, we…
Credit unions have grown to become a major factor in the U.S. economy, with assets that have grown at nearly twice the pace of banks’ over the past decade.1 Credit unions are owned by their members and are designed to offer lower borrowing costs and higher deposit rates. In addition, the…
The Number of Financial Institutions Issuing Brokered CDs Temporarily Declines The number of institutions issuing brokered CDs grew significantly in 2018 and 2019. Banks, savings institutions, and credit unions rose from a plateau of 961 in 2017 and increased to a peak of 1,356 in the 2nd quarter of 2019. The…
For years, brokers, investment advisors, consultants, and others, relied on the Depository Trust and Clearing Corporation (DTCC) to provide monthly balances of qualifying brokered CDs. Since 2014, however, the level of brokered CDs under $250,000 computed by IDC Financial Publishing (IDCFP) as part of brokered deposits, continues to outpace the…
Balances in Insured Sweep Accounts Increase by Only $1.4 Billion, Compared to a Rise of $91 Billion in the First Quarter As a broker, would you be interested to learn about new banks or credit unions as potential issuers of brokered CDs to capitalize on this forecast? Would it be helpful…
