Sunday January 19, 2020

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

Ian Guider

Markets Editor

@ianguider
4th August, 2019

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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