Deposits

Google has tied up with an Indian small lender to offer time deposits to users of its payments wallet, extending its presence in the nation’s lucrative digital banking space.

Year to date Mar. 31, 2021. Dollars in thousands.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

The San Francisco company says it will "modify and strengthen" its filings with the Federal Deposit Insurance Corp. and Utah officials and "resubmit at a later date." It's the latest fintech to encounter such a setback, though some later secured approval.

The Rhode Island bank joins a small group of financial institutions offering corporate clients the chance to park their cash reserves in environmentally friendly projects.

While money market funds are flocking to the Federal Reserve’s overnight reverse repurchase agreement facility for the yield, large U.S. banks are using the program to shed unwanted deposits.

Cullen/Frost Bankers will allow customers to access deposits two days early as traditional lenders look to drum up business by mimicking their financial-technology rivals.

On Mar. 31, 2021. Dollars in thousands.

While the industry is facing greater pressure to scrutinize the environmental risks associated with its financing activities, many banks also sense opportunities in climate change. Here are some examples.

Year to date through Mar. 31, 2021. Dollars in thousands.