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A comment on Banks are slow to increase rates on savings accounts, but quick to reduce them.

Re:Banks are slow to increase rates on savings accounts, but... by cm2187 on Saturday July 25, 2020 @08:37AM (#23948734)
I am happy to be contradicted by better specialists than me of US banks. But aren’t the vast majority of loans in the US fixed rate with no or little prepayment penalties? If that’s the case the interest rate risk of these banks is not trivial and certainly not a simple pass-through of overnight rates.
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Re:Banks are slow to increase rates on savings accounts, but... by tssva on Saturday July 25, 2020 @09:02AM (#23948867)
The article isn't about loan interest rates but the interest rate banks offer on deposits.
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Re:Banks are slow to increase rates on savings accounts, but... by cm2187 on Saturday July 25, 2020 @09:36AM (#23949066)
Where do you think the bank gets the money for paying interest on deposits from?
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Re:Banks are slow to increase rates on savings accounts, but... by dsr_ on Saturday July 25, 2020 @12:30PM (#23950436)
They have sofas in their lobby, and they look under the cushions.

I just checked. US Bank's basic savings account offer 0.01% APY and costs $4/month.

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