Daiwa Considers Revising Deposit Rates After BOJ Eases Policyby
Daiwa Securities Group Ltd. is considering changing the rate it pays depositors at its banking unit following the Bank of Japan’s decision to introduce negative interest rates.
Japan’s second-biggest brokerage hasn’t made a decision on the rates, Tokyo-based spokesman Hiroki Aoyama said Wednesday by phone, declining to specify the direction of any revision.
The BOJ will start charging banks 0.1 percent interest rates on some of their reserves held at the institution, putting pressure on lenders to offset the costs.
Daiwa has increased customer deposits since it set up an online bank in 2010. Deposits at the Daiwa Next Bank Ltd. unit almost tripled over four years to 3.3 trillion yen ($28 billion) as of Dec. 31.