Bank deposits are assets and loans are liabilities on a personal balance sheet, whereas deposits are liabilities and loans are assets on a bank's balance sheet.
In a personal balance sheet, bank deposits would be considered as assets and loans would be considered as liabilities. Bank deposits are considered assets because they represent money that you own and can use for various purposes. Loans, on the other hand, are considered liabilities because they represent debts that you owe to the bank.
However, on a bank's balance sheet, deposits are considered liabilities and loans are considered assets. This is because deposits represent money that the bank owes to its customers, and loans represent the bank's assets as it is lending money to borrowers.
In summary, the classification of bank deposits and loans as assets and liabilities depends on whether you're looking at a personal balance sheet or a bank's balance sheet.