AI agents could drain cheap bank deposits, Apollo's Torsten Slok warns
AI agents could trigger a bank run by automatically moving household cash from low-interest checking accounts to higher-yield alternatives, Slok warns.
AI assistants that manage household money could set off a slow-motion bank run, Apollo’s Chief Economist Torsten Slok warned in a Sunday note titled “Is an Agentic bank run coming?”
Slok said Meta’s personal agent Muse and similar agentic AI assistants could soon sweep household cash into high-interest accounts automatically, instead of the 0.1% national average on checking accounts.
Torsten Slok is one of the widely read and influential investment economists on Wall Street. He is also a partner at private-equity giant Apollo Global, which manages about $1 trillion in assets.
Agentic finance refers to AI that acts rather than just answers. These agents can monitor balances in real time, compare returns across institutions, move idle cash into higher-yield accounts and move it back in time for bills.