German Lenders Open Floodgates to Negative Rates for all Savers

  • Deposit charges reach average retail clients in latest moves
  • Lenders try to offset earnings hit as ECB’s low rates persist
Photographer: Alex Kraus/Bloomberg
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After five years of negative rates imposed by the European Central Bank, German lenders are breaking the last taboo: Charging retail clients for their savings starting with very first euro in the their accounts.