Online banking and digitalisation could, however, change the behaviour of customers and enable faster withdrawals of deposits. At the US (United States) banks hit by the turmoil in March, it was mainly uninsured deposits that were pulled out especially swiftly. [16] Many of these deposits were heavily concentrated in the technology sector.
[17] The funding situation at German banks is different; institutional protection schemes and voluntary deposit insurance provide an additional layer of protection for depositors. What is more, deposits with German banks are not so highly concentrated. And even banks with a higher share of uninsured deposits hold central bank balances or sight deposits with other banks enabling them to service large-scale deposit outflows.