More firms may be asked to pay for money on deposit

More firms may be asked to pay for money on deposit

The ECB has indicated that in a bid to counter a slowdown in the euro zone, it is preparing countermeasures that may well include further lowering the deposit interest rate, which is already in negative territory

More Irish companies are likely to have to pay to place money on deposit as banks prepare for a lengthy period of negative interest rates.

Ulster Bank chief financial officer Paul Stanley told The Sunday Business Post that while it has been charging large corporations a fee to park money for over a year, it may have to broaden the number of customers who face negative interest rates.

The bank said on Friday that customer...

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