Author Bio Bram Berkowitz mainly writes in the financials bureau covering the banking sector. Prior to The Motley Fool, he wrote about and covered community and regional banks in New England for The Warren Group. Follow @BramBerko Deposits in the U.S. banking system climbed steadily through much of 2019, but once the pandemic hit, they flooded the system to never-before-seen levels. Much of that can be attributed to investors rotating into cash in order to escape riskier assets during the pandemic, as well as Americans saving more when there wasn't as much to do. Trillions of dollars in stimulus from the federal government only drove up deposits more.