From Mark the Graph today comes this nice study of bank funding:
Today’s credit aggregates for March (table d03) include a number of data items on money with the banks. These funds are available to banks for making loans.
First we have current deposits with banks, which have been growing steadily. These are the everyday accounts that allow money to be deposited and withdrawn at any time.
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Next we have have certificates of deposits issued by banks. Growth in these instruments has been fairly steady since the onset of the GFC.