The question is why. It's not because the banks don't have cheap money to lend. At Citi, for instance, deposits, which the bank pays often no interest on these days, grew by $30 billion in the past three months. Yet, lending only rose by $4 billion. Before the credit crisis, banks used to lend about 90% of their deposits.It's another example of deposits growing more than loans which doesn't bode well for deposit rates.