Negative interest rates.. - Page 2

Puzzle Piece · ‎06-29-2010

Do you ever wonder where these people pull these ideas out of?

It's not enough that folks work and work at hard and stressful jobs, get jack taxed on their earnings, have to make ends meet with rising costs of everything, and fees attached to everything.

I have to think that the banks/credit companys have to deal with losses of sort due to identity theft. Unfortunately, we all pay.

Never Forget the Native American Indian Holocaust

terrier3 · ‎03-10-2010

@millieshops wrote:
@terrier3It's not the low single digit overlay that really bothers me, but 36%? Isn't that above any usury rate or are their states without a usury rate? My state's top is 24% and even that should be lowered for all except the very riskiest, very largest loans.

I'm not optimistic about seeing a real change though - money is powerful stuff, so whether we look at the Egyptian kings of old, the English royalty and on to the billionaires and millionaires running or wanting to run our country, they never want to give up even a small part of their wealth.

We're really the first middle class society that has existed and some days I also expect we're the last.

The 2009 CARD act set penalty fees but not interest rates. The average rate for people who have missed payments is over 29%, but some banks charge more.

And state rules don't really apply since banks operate in many states and have ways of getting around state rules.

Sad, but true!

June222 · ‎06-15-2015

The day the banks are going to charge me to keep my savings in their bank....is the day I withdraw my savings and hide it in a safe place buried in my back yard for free.

sgraham30 · ‎03-14-2010

I don't know about their savings accounts since most of my funds are with my broker but my bank charges a $6.95 monthly fee for my checking account. However, as long as I have at least one direct deposit every month (I do) & use my debit card a specified number of times, the fee is waived.

handygal2 · ‎01-19-2015

Banks are "laughing all the way to the bank" (pardon the pun), at our expense-- literally.

~~Be careful when you follow the masses. Sometimes the 'm' is silent.~~

Mama Mia · ‎03-10-2010

n/m

"Cats are like potato chips, you can never have just one".

Maudelynn · ‎05-08-2015

Again- this is not happening in the US. The European Central Bank has considered charging negative rates to european BANKS, not customers. It's a tactic to get banks in Europe to lend, to help the economy.

p.s. Hope the OP comes back to let us know where and why this is being "talked about" in the US.

You have sacrificed nothing and no one.

esmeraldagooch · ‎03-10-2010

@Maudelynn wrote:
The article states this is a tactic being considered by the european central bank (similar to our Federal Reserve). The economy is bad enough in Europe that charging negative rates to banks (not customers) is thought to be an encouragement for banks to stop hoarding money and lend out their excess cash. When banks hold onto money, they impede the economy. Lending to small businesses and individuals helps the economy recover.

ETA: Where and why was this discussed here in the US?

The Federal reserve:

A Fed official hinted at NIRP at their Sept 2015 meeting

Oct 9th Fed president BillDudley stating they were an option though not a relevent conversation right now.This statement was followed up by Minneapolis Fed President NarayanaKocherlakota stating point blank that the Fed should “consider negative rates.

Maudelynn · ‎05-08-2015

@esmeraldagooch wrote:
@Maudelynn wrote:
The article states this is a tactic being considered by the european central bank (similar to our Federal Reserve). The economy is bad enough in Europe that charging negative rates to banks (not customers) is thought to be an encouragement for banks to stop hoarding money and lend out their excess cash. When banks hold onto money, they impede the economy. Lending to small businesses and individuals helps the economy recover.

ETA: Where and why was this discussed here in the US?
The Federal reserve:
A Fed official hinted at NIRP at their Sept 2015 meeting
Oct 9th Fed president BillDudley stating they were an option though not a relevent conversation right now.This statement was followed up by Minneapolis Fed President NarayanaKocherlakota stating point blank that the Fed should “consider negative rates.

"though not a relevent conversation right now" are the key words. Thanks so much for posting this.

You have sacrificed nothing and no one.

Stray · ‎04-20-2013

@Maudelynn wrote:
@esmeraldagooch wrote:
@Maudelynn wrote:
The article states this is a tactic being considered by the european central bank (similar to our Federal Reserve). The economy is bad enough in Europe that charging negative rates to banks (not customers) is thought to be an encouragement for banks to stop hoarding money and lend out their excess cash. When banks hold onto money, they impede the economy. Lending to small businesses and individuals helps the economy recover.

ETA: Where and why was this discussed here in the US?
The Federal reserve:
A Fed official hinted at NIRP at their Sept 2015 meeting
Oct 9th Fed president BillDudley stating they were an option though not a relevent conversation right now.This statement was followed up by Minneapolis Fed President NarayanaKocherlakota stating point blank that the Fed should “consider negative rates.
"though not a relevent conversation right now" are the key words. Thanks so much for posting this.

I imagine some posters might have savings in European countries?