Banking Conditions Survey
Special Questions
Special Questions
June 2022
For this survey, respondents were asked supplemental questions on profitability and expectations. Data were collected June 14–22, and 64 bankers responded to the survey.
1. Over the past six weeks, how has your deposit rate changed?
Jun. '22 (percent) |
|
Increased | 50.8 |
No change | 47.6 |
Decreased | 1.6 |
NOTE: 63 responses.
2. What change do you expect in your deposit rate over the next six weeks?
Jun. '22 (percent) |
|
Increase | 81.0 |
No change | 19.0 |
Decrease | 0.0 |
NOTE: 63 responses.
3. What change do you expect in your deposit rate over the next six months?
Jun. '22 (percent) |
|
Increase | 93.8 |
No change | 6.3 |
Decrease | 0.0 |
NOTE: 64 responses.
Special Questions Comments
These comments have been edited for publication.
- We will offer fair increases as the federal funds rate increases.
- Our deposit rates have increased, but we are not passing the full [federal funds] rate change onto our customers.
- We decided to not increase deposit rates upon initial Federal Reserve “liftoff” from 0–0.25 [federal funds rate]. Our institution is still extremely liquid. As the Fed continues raising rates, we believe eventually we will need to start raising rates to be competitive with other banks in our area.
- We plan to balance modest changes in deposit rates with preexisting excess savings dating back to the pandemic period.
- We will have to increase term share certificate and money market rates to compete with our market but not aggressively increase rates on savings accounts.
- We will lag as much as possible due to significant excess liquidity; however, we will raise rates to keep core deposits.
Questions regarding the Banking Conditions Survey can be addressed to Emily Kerr at emily.kerr@dal.frb.org.
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