The Nordic Bank That Doesn’t Want Corporate Cash
- Clients urged to place surplus cash in other Danske products
- Denmark holds the world record in negative interest rates
A logo sits on display outside a Danske Bank A/S bank branch in Copenhagen, Denmark, on Friday, Feb. 14, 2014. A probe into bond price fixing at Danske Bank has prompted political calls for an overhaul of regulatory standards with a view to enforcing tougher rules.
Photographer: Bloomberg/Bloomberg via Getty ImagesDanske Bank A/S is telling corporate clients to think hard about what to do with their excess cash before Dec. 31, because Denmark’s biggest lender doesn’t want it in deposit accounts.
After a world-record-setting half decade of negative interest rates, Denmark still has a few surprises up its sleeve that show how such a monetary regime works in practice. Though corporate clients need to pay to place their savings with the bank, Danske is struggling to deal with near-record amounts of deposits.