Torsten Slok, chief economist at Apollo Global Management, has warned that AI money agents could trigger a “slow-motion bank run.” Apollo is a private-equity giant managing about $1 trillion in assets.

In his Sunday Daily Spark note, titled “Is an Agentic bank run coming?”, Slok asks whether agentic AI sweeping household cash into high-yield accounts could drain the cheap deposits banks rely on for loans.

He points to Meta’s Muse and similar AI assistants, which could soon move household balances into platforms paying 3.3 to 5.0 percent, versus the 0.1 percent FDIC average on checking accounts and 0.4 percent on savings. His chart lists 11 products, led by Adelfi at 5.0 percent.

“If every household used AI agents to optimize the return on their cash balances, banks could lose a large share of the cheap deposits they rely on to make loans, which would be a problem for the entire financial system,” Slok wrote. Blockworks co-founder Jason Yanowitz highlighted the warning on X.

If AI agents go mainstream, banks could face deposit flight at a speed and scale never seen before.