The another, more reputable source says exactly what I said. "The deposit itself is a liability owed by the bank to the depositor. Bank deposits refer to this

The another, more reputable source says exactly what I said. "The deposit itself is a liability owed by the bank to the depositor. Bank deposits refer to this liability rather than to the actual funds that have been deposited. When someone opens a bank account and makes a cash deposit, he surrenders the legal title to the cash, and it becomes an asset of the bank. In turn, the account is a liability to the bank." The ACCOUNT is the liability, the CASH is the asset.