Does that mean banks in the Eurozone will now have an extra incentive to speed up the clearing process?
Or that they will be drawn towards the Bank of England's clearing services?
2013-07-09 ECB's Asmussen hopes for deal with Bank of England on clearing houses
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Previously on "Euro-NIRP"
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That's actually less than I get on my current account. Quite some achievement.
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Euro-NIRP
All going to plan, I see.
The European Central Bank has made the unprecedented move of charging banks to deposit money in a dramatic attempt to inject life into the eurozone's flagging economy and ward off the threat of a damaging deflationary spiral.
In what marks an historic first for the troubled region, president Mario Draghi and his colleagues on the governing council cut the deposit rate to -0.1% from zero, meaning banks will now have to pay for the privilege of parking their money with the ECB.Tags: None
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