A German bank begins to charge customers for their savings – Economíahoy.mx

E. C. madrid. – 23:00 – 08/12/2016

• Load a rate of 0.4% if they exceed 100,000 euros in deposits

opens the spigot. A small German credit cooperative, Raiffeisen has decided to start charging private customers by saving. The company will charge a negative rate of -0.40 percent, the same applies to the ECB to banks to keep their liquidity, when the customer exceeds 100,000 euros in deposits.

“With large customers we do business and was a fee for some time, why should it be different with individual customers who have large bills? “said Josef Paul, an employee of the cooperative to Bloomberg.

the measure, which will begin apply in September, it opens a barrier that seemed insurmountable in one of the countries where the accommodative policy of the ECB is being discussed and causing more unusual reactions in the financial sector.

Commerzbank unveiled in June studying save money in safes to avoid the charge of the ECB and in the wake of the reinsurer Munich Re.

In Spain, banking rule penalize the particular even manage your money has begun to be burdensome for banks. Yes has extended the application of a negative type institutional investors, accustomed to face similar charges (insurance, Sicavs, mutual and pension funds, asset managers, etc.). And some banks, especially foreign, do it promptly with the treasury companies whose management hardly banking dispute.

While the passage of the German cooperative is measured and limited -afectará only about 140 customers according Bloomberg-, is raise the tone of the complaint against the ECB.

Negative rates set by the ECB in its window looking to push the banks to give loans, but the absence of sufficient effective demand to output prevents such liquidity. So, this surcharge is off the bench as a tax also deteriorates rapidly margins.

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