Sunday, January 17, 2021

Tag: Deutsche Bank Capitulates: Starts Charging Negative Rate On All New Deposit Accounts Over €100

Deutsche Bank Capitulates: Starts Charging Negative Rate On All New Deposit Accounts Over €100,000

from ZeroHedge:

It has been a long time coming and it’s finally here.

When the ECB first unleashed negative rates across Europe in 2014, banks were loathe to match the central bank’s deposit rates for their clients to those charged by the ECB over fears depositors would simply take their money and go elsewhere. After all, the premise of paying a bank for the privilege of holding your money is still absolutely insane to most normal people.