UBS To Start Charging Rich Clients With Negative 0.75% Interest Rate
via Zerohedge: For years, European banks were leery of passing on the ECB’s negative -0.40% deposit rate to their clients for fears of deposit flight and other unintended consequences, in the process being forced to “eat” the difference and impacting their interest income. However, after five years of NIRP, and with the ECB set to … Read more