Spain Central Bank To Cap Interest Rates On Deposits -Report
April 14 2011 - 3:03AM
Dow Jones News
Spain's central bank plans to punish commercial banks that offer
interest rates above market levels, Cinco Dias reports, without
citing its sources.
The move is a response to concerns of a possible price war that
could hit bank earnings just as lenders are stepping up the fight
for fresh funds.
The central bank is targeting deposits offering an annual rate
of over 3.1%, including several products recently launched with
rates at 4% or higher, Cinco Dias adds.
Newspaper website: http://www.cincodias.es
-By Madrid Bureau, Dow Jones Newswires; +34 91 395 8120;
djmadrid@dowjones.com
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