Current accounts at risk, banks want to inject more liquidity into the real economy. The expansive monetary policy of the European Central Bank is making liquidity management more and more expensive, interest rates have reached negative values. A dramatic scenario for Italian banks and banks throughout Europe, forced to somehow “discard” the increase of almost 200 billion euros saved by Italians through deposits on their current accounts. As reported by the Corriere della Sera, in fact, some of the major large banks have already taken measures with the ultimate goal of getting rid of current accounts with an average balance of at least 100 thousand euros and without any form of investment or financing, accounts now considered too expensive for the banks themselves and seen as an obstacle in the path to injecting liquidity into the real economy.
Which banks will take action
The first to move towards the closure of accounts with an average balance equal to or greater than 100 thousand euros without managed or administered savings products is Fineco , which with the “Proposal for unilateral amendment of the contract pursuant to art. 118 of the legislative decree n. 385/93“has already notified its account holders, before sending an official communication via registered mail or certified e-mail. Other banks, while not threatening the actual closure of accounts, are moving with the aim of discouraging savings: Bnl is preparing to charge 1000 euros every quarter to stocks exceeding 100 thousand euros, Unicredit is determined to introduce an inventory commission, Bper is ready to undermine the newly opened accounts of companies and VAT numbers exceeding 100 thousand euros with a significant liquidity commission, Banco Bpm – finally – thinks about a system of commissions proportional to the amounts deposited
And abroad?
Considering – in the meantime – that the extent of Italian savings is greater than in other countries, it should be highlighted how Germany e France have adopted negative rates on stocks exceeding 100 thousand euros: a measure that is not applicable in Italy, and which has prompted German savers to take refuge in Italian current accounts.
And give
As previously highlighted, in the last year alone the average balance of Italian current accounts has increased by almost 200 billion of euro, in February – according to data from ABI, the Italian Banking Association – the volume of bank deposits of Italians reached 1,746 billion of Euro. All this only slows down the maneuvers and the economic line dictated by the ECB, as well as generating a real brake on the real economy that is dangerous for the savers themselves. The only solution, in this sense, is to undermine “sterile” wealth, such as deposits exceeding 100 thousand euros with the absence of any form of financing – mortgage or loan – even if already granted but not used (with the exception of cards credit) or any form of investment in managed or administered savings products. For banks, liquidity management is becoming increasingly burdensome: on these accounts, in fact, the management cost is 24.5 euros higher than in 2019.
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