Description:
We examine aggregate inflows, outflows, and the reallocation of deposits in the banking system: before, during, and after the COVID-19 pandemic. We find that inflows of total and core deposits increased, while those of large time-deposits decreased during the pandemic. Outflows of large time-deposits substantially increased during the same time, and this effect was more pronounced at large banks. Inter-group reallocation of deposits amongst banks of different sizes was more prominent than within-group reallocation. And, there was a reallocation of large time-deposits from large banks to small banksduring the pandemic, a reversal from pre-pandemic behavior