Non-Maturity Deposit Stability and Depositor Outflows Literature Review

Basel Committee Publications

Published February 20th, 2026

Detected March 13th, 2026

Summary

The Bank for International Settlements (BIS) published a working paper reviewing literature on non-maturity deposit stability and depositor outflows. The paper examines whether recent banking turmoil indicates changes in deposit behavior due to technological, competitive, or regulatory shifts, concluding that while changes may have affected stability, traditional factors remain significant drivers.

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What changed

This working paper from the BIS presents a literature review on the stability of non-maturity deposits (NMDs) and depositor outflows, prompted by the banking turmoil in early 2023. It analyzes whether technological innovations, evolving funding sources, increased competition, and changes in the legal and regulatory landscape have altered NMD behavior from historical patterns. The review finds some evidence that these developments have impacted NMD stability, but also highlights that traditional factors like deposit insurance and insolvency perceptions continue to be substantial drivers of depositor behavior.

While this is a literature review and not a regulatory rule, it provides insights for financial institutions and regulators regarding the factors influencing deposit volatility. Compliance officers should be aware of the findings, particularly the continued importance of traditional risk factors alongside newer influences. The paper suggests that assessing NMD stability requires considering a complex interplay of evolving and established elements, which may inform future risk management practices and regulatory considerations for banks.

Source document (simplified)

Literature review on non-maturity deposit stability: Established factors and recent developments

This version

BCBS | Working papers | 20 February 2026 | Status: Current PDF full text (453kb) | 35
pages Topics: Liquidity The banking turmoil of March to May 2023 has led to questions about whether the behaviour of non-maturity deposits (NMDs) has changed. The unusually fast bank depositor outflows amidst depositor panics in 2023 could have been affected by a variety of new developments including technological innovations, changing funding sources for banks, changes in competition faced by banks and the evolution in the legal and regulatory landscape. This literature review considers the extent to which these developments have led to NMD behaviour inconsistent with what has been historically established to affect depositor actions. Overall, the review finds some support for the view that the various changes to the banking and financial industry have affected NMD stability. However, the evidence also suggests changes in NMD stability in recent times have been substantially driven by traditional factors such as deposit insurance coverage and perceptions of bank insolvency. Thus, it would be difficult to conclude whether the net effect of the changes has resulted in more volatile NMD depositor behaviours.

The views expressed in this publication are those of the authors and do not necessarily represent the official views of the Committee, its members or the BIS.