Q1 2020 Bank Executive Business Outlook Survey

January 1, 2020

What a difference three months make. In the fourth quarter of 2019, the outlook among bankers about the economy and the state of the industry was solidly positive. But as a result of the COVID-19 pandemic and the uncertainty it has created, the view among bankers has sharply shifted direction.

But as a result of the COVID-19 pandemic and the uncertainty it has created the view among banks has sharply shifted direction, becoming markedly more pessimistic about the economy with a sizable number concerned about access to capital during the coming year. Bankers did see some positive signs, however. Funding costs have decreased as banks witnessed a massive influx of deposits in the first quarter. Competition for deposits has also declined as domestic deposits surged by more than $1 trillion during the first quarter.

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Deposit placement through an IntraFi service is subject to the terms, conditions, and disclosures in applicable agreements. IntraFi is not an FDIC-insured bank, and deposit insurance covers the failure of an insured bank. Deposits placed through CDARS and ICS are placed at FDIC-insured banks in IntraFi’s network and are eligible for FDIC deposit insurance coverage at network banks. Deposits that are placed through an IntraFi service at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through an IntraFi service satisfies any restrictions on its deposits.