US commercial bank deposits slipped to $19.296 trillion, shedding $42 billion from the prior week’s $19.338 trillion.
The data comes from the Federal Reserve’s H.8 statistical release, which tracks the assets and liabilities of commercial banks on a weekly basis.
The post-pandemic hangover continues
From 2019 through late 2021, US bank deposits surged by over 35%. Stimulus checks, quantitative easing, and a general “nowhere to spend it” vibe during lockdowns turned bank accounts into bloated savings vehicles.
Deposits have been hovering around the $19 trillion mark. The trajectory since the pandemic peak has been one of gradual erosion, with year-over-year dips observed through 2023 before some recovery kicked in. The current level suggests that recovery has itself plateaued, with deposits neither surging back toward pandemic highs nor collapsing toward pre-2020 levels.
