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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: hclasvegas   😊 😞
Number: of 15070 
Subject: Re: O/t, banks and their cost of deposits,
Date: 04/07/2023 10:01 AM
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Good morning, no, not just promotions to attract new accounts but for adding to existing accounts as well. Even at say a Schwab account, their mmf yields say 4.3, .50 less than say vanguards mmf, but, that's close enough to keep the money in house at Schwab. Several friends have, substantial accounts, at firms I never did business with. How do banks make money paying 4.3 for deposits when lending is so tight? For how long will t bill rates be this high?
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