"A surge in brokered deposits is pushing US banks' wholesale funding near levels that prevailed in 2018 and 2019 as funding costs continue to reset higher.

Brokered deposits, which tend to be high cost and generally do not represent direct customer relationships, increased 7.4% sequentially to $1.295 trillion in the third quarter, making the funding type the largest among wholesale categories, according to data from S&P Global Market Intelligence. Overall wholesale funding increased 2.9% to $3.285 trillion."