1. When banks accept deposits from clients, they OWE the client that money. So deposits are liabilities to the bank.
Liabilities cost money…
…”cost” both to serve those clients (branches, tellers, apps) and any interest the bank pays you on your checking account (deposit). pic.twitter.com/2in9kir8qi
— Compound248 💰 (@compound248) March 10, 2023