(Bloomberg) — A growing number of German banks are passing on negative interest rates to their retail customers as the costs become too high to bear on their own.Berliner Volksbank, the country’s second-largest cooperative lender, started to apply a minus 0.5% rate on deposits exceeding 100,000 euros ($110,000) in its first charge for retail clients. The move may encourage other lenders to follow suit, with both Deutsche Bank AG and Commerzbank AG signaling that they’re warming to the idea.“Things are changing in the industry and we expect further negative interest rates, especially since one of the major cooperative lenders has …read more
Source:: Yahoo Finance
