Household deposits held in the banking system fell around $2.5 billion, to $427 billion, in the month of June 2009, Australian Prudential Regulation Authority data published on Friday shows. It is the first dip in the measure of household deposits across the banking sector since the financial crisis emerged in 2007. Presumably household savings are flowing back into equities and perhaps other investment options, consistent with the rally in the Australian and world stock markets.In the context of reduced holdings of deposits it is interesting to note which banks reported the steepest decline.Commonwealth Bank saw household deposits decline by 1.6 per cent over the month, National Australia Bank by 0.6 per cent and ANZ and Westpac by 0.2 per cent.In the case of CBA's customer base, at least, it probably reflects the redirection of cash into equities through CommSec.Business deposits, on the other hand, increased over the month of June with ANZ reporting the strongest growth.