the withdrawal of funds from banks and savings institutions in order to invest them in government securities, commercial paper, etc. paying higher rates of interest
See disintermediation in American Heritage Dictionary 4
(dĭs-ĭnˌtər-mēˌdē-āˈshən)
noun
Withdrawal of funds from intermediary financial institutions, such as banks and savings and loan associations, in order to invest in instruments yielding a higher return.