I'm a bit confused here. I understand that depositing money creates a liability for the bank in the sense that money (and interest thereupon) may be withdrawn a

I'm a bit confused here. I understand that depositing money creates a liability for the bank in the sense that money (and interest thereupon) may be withdrawn at any point... but until the depositor withdraws, isn't the actual cash that has been deposited in an account an "asset," in the sense that it is on the bank's books?