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Commerzbank Stops Depositing Money at ECB, CEO Says

Commerzbank AG, Germany’s second-biggest bank, will no longer deposit surplus cash at the European Central Bank after policy makers reduced rates to negative, Chief Executive Officer Martin Blessing said.

While the measures the ECB announced last week will drive interest rates lower, they are an “experiment” and “we will see the results in a couple of months or a couple of quarters,” Blessing told Bloomberg on the sidelines of a conference in Frankfurt today.