Jason Yanowitz shares Apollo chief economist’s view on agents and bank runs

ChainCatcher reported that Blockworks co-founder Jason Yanowitz shared a view from Apollo’s chief economist on how agents could affect bank funding. According to the economist’s assessment, agents may trigger bank runs by aggregating household cash and moving it out of low-yield accounts. The argument centers on the gap between the national average account rate of 0.1% and alternative accounts paying 3% to 5%. If that shift happens at scale, banks could lose a large share of their cheap deposits. The item was published as a 7x24 newsflash by ChainCatcher.