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Staff Reports

Deposit Specialization and Lending Behavior

Number 1175
December 2025

JEL classification: G20, G21, G01

Authors: Kristian S. Blickle, Cecilia Parlatore, and Anthony Saunders

We examine how banks’ depositor composition shapes lending behavior, using granular supervisory data on deposits, loans, and securities for the largest U.S. banks. Classifying banks by depositor specialization, we find persistent differences in funding that translate to differences in asset allocations. Retail-depositor oriented banks hold longer-maturity loans and conduct more real estate lending, while corporate- and NBFI-oriented banks, whose funding is more volatile, hold shorter loans and liquid securities. Loan-level analyses show that stable funding is associated with lower rates, longer maturities, and larger loans. Growth in deposits is allocated differently depending on the depositor specialization of the bank, something we can explore using exogenous deposit growth during COVID.

Full Article

Author Disclosure Statement(s)

Kristian Blickle
I have nothing to disclose.

Cecilia Parlatore
The author declares that she has no relevant or material financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html.

Anthony Saunders
I am happy to disclose I have no financial or other conflicts of interest in my research work and papers co-authored with Kristian Blickle.

Suggested Citation:
Blickle, Kristian, Cecilia Parlatore, and Anthony Saunders. 2025. “Deposit Specialization and Lending Behavior.” Federal Reserve Bank of New York Staff Reports, no. 1175, December. https://doi.org/10.59576/sr.1175

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