Also Italian post decide to reverse the cost of negative interest rates on their account holders. The choice was communicated through letters to customers. The departure date indicated to start the new course was last September 15th. The operation, writes the Sole 24 Ore, And provided only for current accounts that have daily balances above 5 million euros. Since this is a post office, the measure is limited to a limited number of customers compared to the majority and more than anything else to corporate customers.
In the letter he explains that “the trend in interest rates recorded in recent years has led to a persistent imbalance between the costs incurred from Bancoposta for the management of the accounts and revenues associated with the use of inventories “. It is then clarified that the interest rate will no longer be calculated on a fixed basis but will be equal to the average reference interest rate in very short-term transactions carried out on the European interbank market : in substance theEonia.
The detection of that rate is daily: in these days it is around -0.5% and will be the percentage calculated on the daily consistency to establish the cost to be charged to the customer. The determination of the group of addresses is linked not only to the need to reduce one’s costs, but also to try to restart the liquidity parked on current accounts which, according to what was indicated in recent days by the governor of the Bank of Italy, Ignazio Visco, increased by 200 billion between 2019 and March 2021.
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