Overview
- BCRA data show the stock of peso term deposits rose 4.6% in real terms in January and 13.2% year over year.
- Officials attribute the inflows to financial service providers and a portfolio shift by money‑market funds after the CNV raised individual limits for term deposits, while sight deposits contracted.
- This week major banks keep 30‑day TNAs roughly between 23% and 27%, with some digital or regional institutions above 33%, and the average near 25% versus about 26% last week.
- Within the product mix, UVA or exchange‑adjusted deposits jumped 29.3% in real terms in January but remain 34.7% below a year earlier, and fixed‑rate placements increased 5.1% monthly and 14.1% annually.
- Digital access via the BCRA’s Plazo Fijo Digital (DEBIN) lets non‑customers place time deposits remotely, with many banks offering higher online than in‑branch rates, and dollar term deposits have inched up, such as Banco Nación at 2.5% annual.