BoC’s negative interest rate on deposits new policy

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BoC’s negative interest rate on deposits new...
 © In-Cyprus 2020
Bank of Cyprus has introduced a new policy and terminology concerning deposit rates for specific clients. It is called “liquidity cost charge in euro deposits” and corresponds to a negative interest rate of -0.4%, according to the lender’s website.

Letters have also been sent out to concerned parties, Phileleftheros reported on Friday, adding that the deposit charge is basically translated into a negative interest rate.

The new data affects state and semi-governmental organisations (except universities and educational institutions) as well as financial...


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BoC’s negative interest rate on deposits new policy


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