U.S. bank deposits grew 4.0% to $18.1 trillion in the year ended June 30, a sharp acceleration from just 0.8% growth the prior year and the second straight annual increase after 2023’s decline, S&P Global Market Intelligence wrote. At the same time, banks continued shrinking their branch networks, with total branches falling 0.8% year over year to 76,120.
Another S&P article discussed how banks nearing key asset thresholds are increasingly turning to M&A to grow past those limits and capture economies of scale in today’s friendlier regulatory climate.
The US Debt market is much greater than the total of US bank deposits. Debt held by the public now totals $30 trillion dollars as you can see on the graphic compared to total bank deposits of $18 trillion. The US government is the biggest competitor for bank funding today. 
