Thursday, February 2, 2023
12:00 – 1:00 pm (Eastern Time)
11:00 – 12:00 pm (Central Time)
10:00 – 11:00 am (Mountain Time)
9:00 – 10:00 am (Pacific Time)
Can banks hang on to low-cost deposits as interest rates rise? The dilemma is very clear. Bankers have a portfolio of deposits that they would prefer to leave at current interest rates. However, those account balances will erode if bankers don’t move the interest rates up. How will banks grow without participating in the rate wars?
The key is to develop a more robust pricing and sales engagement process. The old rate sheet and a cup of coffee won’t cut it today. Because some depositors are content, some are curious, and some are active rate shoppers. If banks treat any of the people who fall within these categories like they have the profile of another category the bank will squander interest expense unnecessarily or lose the opportunity to profit on deposits that the bank could have had at an attractive spread to U.S. Treasuries or FHLB Advances.
Specific topics will include:
- The magnitude of expected increases in interest expense
- Impact of Open Banking on deposit price elasticity
- Deposit pricing lags have consequences
- Enhancing results by enhancing the process and the products offered
- Not all friction in banking is bad
- The best options to win properly priced deposits today
1.0 CPE Credits