An analysis from the Federal Reserve Bank of Dallas published on August 25 indicates that AI-directed bank accounts could rapidly move deposits among banks, weakening the stable funding banks use to extend long-term credit. The Dallas Fed estimates that banks hold approximately $7 trillion in asset-side interest-rate exposure, of which $5.84 trillion is supported by deposit duration characteristics. In one sensitivity case, a 10% increase in deposit price sensitivity could reduce aggregate duration-risk appetite by about $700 billion, potentially prompting banks to turn to costlier wholesale funding or hold more liquid assets. Tokenized deposits remain early in development and the magnitude of the impact remains uncertain.
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