NIRP Officially Arrives In The US As JPMorgan Starts Charging Fees On Deposits

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NIRP Officially Arrives In The US As JPM Starts Charging Fees On Deposits (ZeroHedge, Feb 24, 2015):

The nebulous threat of NIRP in the US “some time in the future” became tangible after J.P. Morgan Chase, the largest US bank by assets (and second largest in the US by total derivative notional) is preparing to charge large institutional customers for some deposits. WSJ adds that JPM “is aiming to reduce the affected deposits by billions of dollars, with a focus on bringing the number down this year. “The moves have thrown into question a cornerstone of banking, in which deposits have been seen as one of the industry‚Äôs most attractive forms of funding.

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