Morgan Stanley-US Banks How Willing Is Your Bank to Pay Up for Deposits M...-107666307

MApril17,202404:31PMGMTUpdateUSBanksNorthAmericaMorganStanley&Co.LLC+1212761-8473+1212761-4092HowWillingIsYourBanktoPayBetsyL.Graseck,CFA+1212761-1761UpforDeposits?Mid-Month+1212761-1084UpdateApril2024EquityAnalyst+1212296-3096Betsy.Graseck@morganstanley.comWhat'sNew:InthefirsttwoweeksofApril,banksdecreasedtheirhighestratesandAttractive1-12monthCDrates,butincreasedtheir13-36monthCDs.TheaveragehighestrateMananGosaliaIn-Linepaiddecreasedby5bps.ThemajorityofbankskepttheirhighestratesrelativelyIn-Linesteady,threebanksdecreasedtheirhighestrateoverthepasttwoweeks(CIT,SNVEquityAnalystandWBS)andonebankincreaseditshighestrate(VLY).Manan.Gosalia@morganstanley.comRatesonnewCDoffersdecreasedforHighestand1-12MonthRates,butJeffreyAdelson,CFAincreasedfor13-36MonthRates:Inthepasttwoweeks,theaveragehighestratepaiddecreased5bpsto4.86%,theaverage1-12monthratedecreased7bpstoEquityAnalyst4.71%,whiletheaverage13-36monthrateincreased11bpsto3.56%.AmongtheJeff.Adelson@morganstanley.comprimarilyonlinedepositgatherers(ALLY,AXP,COF,DFS,andSYF),theaveragehighestCDrateremainedflatat4.85%,theaverageonlinesavingsratewasdown2BrianWilczynski,CFAbps.ResearchAssociate•HighestCDRates:NYCBisofferingitshighestCDrateformaturitiesunderBrian.Wilczynski@morganstanley.com36monthsat5.50%,followedbyOZKat5.30%,andFITBat5.20%.AlexanderLWard•LowestCDRates...