According to CoinMeta, the battle for UK bank deposits is intensifying, with traditional banks facing pressure of capital loss. UBS analyst Jason Napier stated during a teleconference on Lloyds Bank Group's financial results that deposits have become "the top concern for investors." In the three months ending September 30, Lloyds Bank saw a reduction of 300 million pounds (approximately $403 million) in retail savings deposits in the UK, and the same scale of decline was observed in the private banking and wealth management business of National Westminster Bank Group. Barclays Bank's corporate deposits in the UK decreased by 2 billion pounds compared to the previous quarter. HSBC Holdings indicated that one of its key profitability indicators remained stable, but new competitive pressures in the UK market for customer deposits offset some of the positive effects. Deposits are a source of funds for banks at lower costs than wholesale financing markets; a reduction in deposit volumes means that banks either have to reduce lending or bear higher financing costs.