A German Bank Finally Caves: Will Charge Retail Investors A Negative 0.4% Deposit Rate

Saturday, August 13, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Aug 13, 2016

Raiffeisen Gmund am Tegernsee, a German cooperative savings bank in the Bavarian village of Gmund am Tegernsee, with a population 5,767, finally gave in to the ECB’s monetary repression, and announced it’ll start charging retail customers to hold their cash. Starting September, for savings in excess of €100,000 euros, the community’s Raiffeisen bank will charge a 0.4% rate. That represents the first direct pass through of the current level of the ECB’s negative deposit rate on to retail depositors.

The Rest…HERE

Leave a Reply