Nearly $6 trillion, a historic-record amount of money, is sitting idle in liquid accounts, such as checking, savings and money markets (MM), according to a new report from Market Rates Insight (MRI).

Seventy-five cents of each deposit dollar is earning an average of less than one-half of 1 percent in interest. This is the highest amount of liquid deposits in the nation’s banking history, MRI reports.

The increase in liquid-account balances is attributed to an increase in new deposit money as well as money that was moved from maturing CD accounts to checking, savings and MM accounts, according to a statement. Liquid money now makes up 75 percent of total deposit balances in the nation’s bank accounts.

During the last three years, nearly 13 percent of total deposits shifted from term accounts, such as CDs, to checking, savings and MM accounts. In March 2009, liquid accounts balances made up 62.2 percent of total deposits.

"The fact that a record amount of money is sitting idle in liquid accounts despite dismal returns is a vote of no confidence in the economy," said Dan Geller, executive vice president, MRI. "It is an indication that consumers are not yet confident enough about the prospects of economic recovery, and are reluctant to make a time commitment with their money."