Banks Start to Crack Under Negative Rates as Danish Deposits Hit Record

Having endured negative interest rates longer than anyone else, Danish banks are now finally buckling under the pressure.

This week, a second systemically important financial institution in Denmark said it will impose a rate of minus 0.6% on retail deposits bigger than $1.1 million. The announcement by Sydbank came roughly a week after Jyske Bank said it would do the same.