Banks Load Up on $1.2 Trillion in Risky ‘Hot’ Deposits

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Banks Load Up on $1.2 Trillion in Risky ‘Hot’ Deposits
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Brokered deposits, an obscure but costly banking industry product, jumped in the second quarter.

Sept. 12, 2023 5:30 am ETreported holding $8.5 billion in brokered deposits, an obscure but costly banking industry product that is drawing attention from regulators. At this time last year, the Salt Lake City-based bank had practically none.

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