Bank of America Retains #1 Status in Deposits

[Parsad]

Article on U.S. bank deposits.  Cheers!

 

http://www.snl.com/InteractiveX/Article.aspx?cdid=A-15932209-13101

[ERICOPOLY]

But banks still must find ways to put that additional cash to work — an increasingly difficult proposition, given the Federal Reserve's intention to keep the long end of the yield curve low, said Sam Bullard, senior economist at Wells Fargo.

 

 

But I presume they can continue to let long term debt mature using the rising deposit base instead of issuing new long term debt.

 

Effectively wringing more profit out of existing loans, instead of making new loans.

 

[benchmark]

Article on U.S. bank deposits.  Cheers!

 

http://www.snl.com/InteractiveX/Article.aspx?cdid=A-15932209-13101

 

They are also pretty aggressive on their loan product -- a couple of my friends has recently re-financed with them, bodes well for the upcoming quarter.

[Gopinath]

But I see BOA has the lowest growth rate in deposits in top 10 banks next to SunTrust.. I wounder what the reasons could be?

[fareastwarriors]

But I see BOA has the lowest growth rate in deposits in top 10 banks next to SunTrust.. I wounder what the reasons could be?

 

Besides all the negative publicity and media attention about the debit fees and account fees?

 

[Shawn]

No surprise there....

 

I still think they are a mediocre bank though. I'm sure Moynihan will do an incredible job with Bank of America in the next decade or so but ehhh I'd rather take Wells Fargo. However, the warrants for Bank of America are extremely attractive.

[FrankArabia]

who wouldn't take WFC over BAC on equal valuation. However, WFC is selling at twice the multiple....i'm long JPM which is right in the middle...