AI agents could drain cheap bank deposits, Apollo's Torsten Slok warns
AI agents could trigger a bank run by automatically moving household cash from low-interest checking accounts to higher-yield alternatives, Slok warns.
Source: CoinDesk
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DW NOTE
Slok is worried AI will optimise households out of zero-interest checking accounts and into 4% savings accounts. He calls this a "bank run." It isn't. It's price discovery finally reaching retail depositors who have been subsidising bank margins for two decades. If your business model requires financial illiteracy, you don't have a business model.