Birdwatch Note Rating
2023-04-16 02:53:40 UTC - SOMEWHAT_HELPFUL
Rated by Participant: C41A9873397E598E5921D18BE9074C82306CBF9E3177472FC86262ABB17558FD
Participant Details
Original Note:
This is incorrect. JPMorgan’s average deposit rate on interest bearing deposits was 1.85%; another ~25% of deposits were non-interest bearing - producing an all-in rate of ~1.1%; this has been rising rapidly. https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2023/1st-quarter/88617d8a-a183-45a7-acd9-eea77b439879.pdf Also, banks offer checking/payments for free for cheap deposits.
All Note Details