Commerzbank contemplates hoarding cash in its vaults rather than put it into the hands of the ECB and negative interest rates
As fund managers met in the heart of Germany and expressed concern that market bending central bank experimentation with negative interest rates and aggressive quantitative easing could create another financial crisis, news comes that one of Germany’s largest banks, Commerzbank, is joining the resistance movement.
Top Commerzbank contemplates rejecting negative rates in conversations with German government officials to hoard cash
Frankfurt-based Commerzbank is considering storing billions of euros in its vaults rather than place it in a negative interest rate generating accounts at the European Central Bank, Reuters is exclusively reporting.
The move by the $532 billion euro bank, which...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
