With the FDIC call report data now available for the 3rd quarter of 2024, we can now see that the median bank CD portfolio yield for the quarter was 4.29%, up from 4.16% in the previous quarter.
The average CD yield in the U.S. for the quarter was 4.62% when you add up all the CD interest paid and annualize it compared to the average volume of CDs during the quarter. This is up from 4.56% in the previous quarter. This means that the banks paying higher rates had a significantly greater share of the volume.
Bankers might want to check out the recent publication of the Term Funding Profitability benchmark at https://thecorepoint.com/cd-benchmark/f/cd-performance-september-2024
To explore the Pressure Gauge for your bank or your competitors use this link Pressure Gauge for Bank Funding 092024
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Neil Stanley
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