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Breaking The Taboo

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Small German bank breaks taboo by charging wealthy clients for deposits. It will apply a custody charge of 0.4 percent to sight deposit accounts over 100,000 euros from September. More at Reuters.
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German 10-year bund yield drops below zero

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A new milestone is reached! German 10-year bund yield drops below zero for the first time in the history. The German 10-year securities join the more than 40 percent of the $6.4 trillion of euro-region debt that already has yields below zero Looks like we are getting closer to the time when European banks will
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The implication of negative interest rates

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Commerzbank is considering storing cash in costly vaults instead of keeping it with the European Central Bank. Should Commerzbank take this step, pulling money away from the ECB and literally storing it in vaults would likely be seen as a huge protest against the ECB. Read more at businessinsider.com.
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The deadline for MiFID II has been extended

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The European Commission finally announced the long-awaited delay in the implementation of Markets in Financial Instruments Directive (MiFID II) last Wednesday. Investment firms, market operators and data reporting services providers will have an additional year to comply with the Directive and the Regulation. The reason for the extension lies in the complex technical infrastructure that
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Investors in practice pay to lend it money

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Germany sells five-year government bonds at a negative yield. Germany auctioned five-year government bonds at a negative yield. That is for the first time in its history. It’s a Big day for the financial history books. 3.28 billion euros of bonds due in April 2020 were sold at an average yield of negative 0.08% according to
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