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BNY Mellon says charging clients on their euro deposits
2014年10月17日 / 下午2点48分 / 3 年前

BNY Mellon says charging clients on their euro deposits

BOSTON, Oct 17 (Reuters) - BNY Mellon Corp, the world’s largest custody bank, said on Friday it began charging clients 0.20 percent on their euro-denominated deposits.

BNY Mellon initiated the charge on Oct. 1, reflecting a recent move by the European Central Bank to charge 20 basis points on deposits in hopes of persuading banks to lend more money to businesses and consumers.

BNY Mellon reported $221.7 billion in average deposits at the end of September. And the bank said 15 percent of that amount was in euro-denominated deposit liabilities.

Banks typically pay customers for their deposits, but that amount has been paltry amid an environment of prolonged, rock-bottom interest rates. The ECB’s charge on deposits is designed to spur economic activity. (Reporting By Tim McLaughlin; Editing by Chizu Nomiyama)

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