Charities in the Netherlands fear negative rates


Charities are concerned about the intention of the country's banks to move to negative rates. Organizations believe that this is an extremely undesirable fact, writes the newspaper Financieele Dagblad. Since April, legal entities will pay 0.5% for deposits exceeding 1 million euros from ING, 2.5 million euros from ABN Amro, and 12.5 million euros from Rabobank. Many large charities hold multi-million dollar sums in banks in case of disasters or other emergencies. In part, they can avoid a negative rate by distributing these funds to a number of different banks. However, Rabobank Bank declared its readiness not to extend the negative rate to charitable organizations.

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