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Banks Count Cost of Negative Rates as ECB Tries to Ease Pain

  • Earnings under pressure across Europe as tiering system starts
  • ‘It’s very hard’ to run a bank with negative rates, says HSBC
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European banking executives comment on how negative rates are impacting their business. Bloomberg

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Three months after Christian Sewing declared he was returning Deutsche Bank AG to its roots as a European lender, the chief executive officer faced a reckoning: There’s just no quick fix for banks in a region plagued by negative interest rates.