Deposit Report Q1 2023

The transition to quarterly releases in 2023 will provide our clients first and third quarter data, on the largest sections of the report, between our full report releases which remain semi-annual. The report’s sections consider the marketplace from several vantage points, including product structure, interest rate/pricing factors, time to maturity, liquidity, transactions, segmentation by account size, and distribution channels.

The Q1 2023 edition focuses on the strength of fixed-term deposits as interest rates continue to rise, albeit at a slower pace, and shows the heightened competition from investment savings accounts and money market funds as an alternative. Contrasting performance by product remains pronounced in the first quarter of the year, however we are looking to see allocation adjustments less volatile in the second half as indicated by intermediated channels in this report.