means a negative interest rate that customers pay to ensure that the Institute kept your money. The money houses even currently have to pay 0.5 percent interest rates, if they Park money with the European Central Bank. To corporate customers, banks share the costs of longer-and, increasingly, customers with higher balances are affected.negative interest rates more and more savers
threaten The market will always be nervous, even with regard to small private customers, said Zender. Custodian fees would be normal in the credit business, "always". "We don't want to be the first" said Zender. "We would like to see it, if all the involved market actors kept the nerves. But in the given circumstances, which is getting harder and harder for us as savings banks.“
In the case of larger sums of individual savings banks demanded custodian fees from private clients, said Zender. The rate of interest will be charged on the portion of the deposits above certain amounts.
the savings banks should be able to fend off money to protect their balance sheet, "" said Zender. Association President Michael Ermrich said: "If a new customer comes in, has suddenly discovered his love to the savings Bank, and says: "I have a Million" - because it is difficult."
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Recently announced by the Sparkasse Vogtland in Saxony, a Negative rate of 0.7 per cent for deposits of new customers starting at 5000 euros, this announcement but a little later withdrawn.
The East German savings banks Association represents the public money houses in Mecklenburg-Western Pomerania, Brandenburg, Saxony-Anhalt and Saxony. Their customers had to 2019, approximately 65,3 billion euros in current and call - money accounts, parked, nearly 11 percent more than in the previous year. Similar to the savings deposits grew at a normal rate of return, which reached 14.8 billion Euro.
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The clients were looking for a safe haven, said Zender. Shares and other securities be afraid, rather, in order for the Institute to put eight billion euros, one per cent less than in the previous year.
Except in Mecklenburg-Vorpommern, companies and private people in 2019, took more loans than in the previous year. This was partly due to the low interest rates many people in the construction, renovation or purchase of homes and apartments invested. The volume of newly issued housing loans grew in all four countries in the double digits.
"The savings Bank business is growing disproportionately, and the profit drops yet", said the Association. As an operating result of EUR 1.2 billion were specified, 5.2 percent less than in the previous year. After deducting all expenses and taxes, Plus, that was almost half year-on-year, however, remained with 215 million euros.
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