Um estudo sobre os depósitos sem vencimento: determinantes dos volumes de poupança

The asset and liability management of a financial institution is always subject to debate, with respect to non-maturing liabilities. This work studies the behavior of these liabilities over time, focusing on saving deposits. The goal is to estimate a model of determination the changes in balances of these liabilities, analyzing the possible variables involved in the behavior of these accounts. It’s a dedicated approach to interest rates, both client and market rates, given its connection with the trade off faced by economic agents about which investment to pursue their applications. The results show that the agents are sensitive to the difference between the yield on savings accounts and the rate of long-term market, as well as variations in the volumes of deposits and data of past economic activity.