Banks Turn Away Customer Deposits due to Negative Interest Rates in Germany

Banks Turn Away Customer Deposits Due to Negative Interest Rates in GermanyBanks in Germany are reportedly turning customer deposits away due to the negative interest rate imposed on them by the European Central Bank (ECB). Some banks are even offering online tools to help customers take their deposits elsewhere. Negative Interest Rates Imposed by ECB Force Banks to Turn Away Customer Deposits Banks in Germany have […]

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300 Banks in Germany Charge Negative Interest Rates Including Deutsche Bank, Commerzbank, ING

300 Banks in Germany Charge Negative Interest Rates Including Deutsche Bank, Commerzbank, INGA new report reveals that more than 300 banks in Germany are now charging some customers negative interest rates. Some are big global banks, including Deutsche Bank, Commerzbank, and ING. 300 Banks Pass on the Burden of Negative Interest Rates to Customers Banks in Germany have been increasingly passing on the burden of negative interest […]

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German Banks Purposefully Misled the ECB in 2014, Report Shows

TheMerkle_ECB BOJ DLTIn the financial world, there are a lot of developments that were never allowed to see the light of day. A new report issued by several experts confirms that the ECB was fooled by several German banks in 2014.  Every so often, the ECB will conduct an asset quality review, or AQR. The ECB was Misled by German Banks During that type of audit, all member banks need to provide transparent balance sheets to determine how viable their current approach is. As one would come to expect, several financial institutions will try to game the system accordingly.  A new report

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80 Banks Charge Negative Interest Rates as Crisis Deepens in Germany

80 Banks Charge Negative Interest Rates as Crisis Deepens in GermanyAmid the coronavirus pandemic and deepening financial crisis, the number of banks charging customers negative interest rates in Germany has accelerated. At least 80 banks now reportedly charge negative interest rates, 16 of which apply this policy to even small deposits. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed […]

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Boerse Stuttgart: New German Crypto Regulation Poised to Attract Institutional Investors

Boerse Stuttgart: New German Crypto Regulation Poised to Attract Institutional InvestorsSince the new German crypto regulation went into effect, financial institutions in Germany have been preparing to offer crypto custody services. Among them is Boerse Stuttgart, the country’s second-largest stock exchange. Having obtained a provisional license from BaFin, the regulator in charge of licensing crypto service providers, Boerse Stuttgart is preparing to offer crypto custody […]

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German Banks Increasingly Charging Retail Clients Negative Interest Rates

German Banks Increasingly Charging Retail Clients Negative Interest RatesA growing number of banks in Germany are charging retail customers negative interest rates, starting with the very first euro deposited into their accounts. At least three German banks are reportedly doing so, with more expected to follow suit in the near future. As the European Central Bank maintains a negative rate policy, more banks […]

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Banks Are Cutting 75,700 Jobs Worldwide

Banks Are Cutting 75,700 Jobs WorldwideBanks worldwide have announced major job cuts this year. Globally, 75,700 jobs are reportedly being eliminated, with the most recent announcement coming from Italy’s largest bank. Unicredit has become the latest major bank to unveil layoff plans, joining Deutsche Bank, Santander, Commerzbank, HSBC, and more. The negative interest rate environment and slowing economies have forced […]

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