Association of Sparda Banks welcomes farewell to negative interest rates
Frankfurt (ots) – “We waited a long time for this step by the ECB, which had no alternative
waited. Finally she has acknowledged the reality and the long overdue one
brought regarding a turnaround in interest rates. Already in July 2021 we met with the
former constitutional judge Prof. Paul Kirchhof for the end of
Negative interest rate policy used and our demands on politicians, the ECB and
Bundesbank, approached. Today we are facing the consequences of the failure of the ECB
Interest rate policy – massive inflation with implications for the economy and
society in uncertain times. Your only mission, price stability
to ensure that the ECB has violated. Now she’s sending an overdue signal
for the normalization of monetary policy. Our customers benefit from the
Interest rate development, the custody fees at the Sparda banks are timely
abolished. But one thing should be clear from now on: such a violation of the
core mandate of the ECB must not be repeated,” said the CEO
of the Association of Sparda Banks, Florian RENTSCH.
About the book “Money in the wake of negative interest rates”
The legal elaboration by Prof. Paul Kirchhof is available as a book
was published by Verlag CH Beck under the title “Money in the wake of negative interest rates”.
and commercially available since July 6, 2021.
Sparda aspects for download
The Association of Sparda Banks published issue 9 of the “SpardaAspekte” series
The problem of negative interest rates for the banking market and demands on politicians and
Regulation in a position paper “The long-term domino effect for stable
Business Models”. This is under
https://sparda-verband.de/unserePOSITIONS/ available for download.
About the Association of Sparda Banks
The association of Sparda banks registered association with seat in Frankfurt am Main is
Auditing association within the meaning of the cooperative law. As a “staff position” he is
also the mouthpiece of the group to the outside world. In addition to examining the
Association members are also responsible for advising and supporting the association
legally and economically independent Sparda banks in
cooperative, legal, tax, business,
organizational and personnel matters. In addition, he takes
the tasks of advocacy and promotes the political
Dealing with social and financial issues.
About the Sparda Group
The group of Sparda banks consists of eleven economically and legally
independent Sparda banks in Germany. With four million customers and 3.3
million members, the institutes are among the most important retail banks in
Germany. The Sparda banks are a cooperative member of the
Federal Association of German Volks- und Raiffeisenbanken (BVR) and part of
Cooperative Financial Group.
Press contact:
katja riedel
Advisor to the Management Board / Public Relations
Association of Sparda banks eV
Tower 185 – 17. Etage
Friedrich-Ebert-Anlage 35-37
60327 Frankfurt am Main
Tel.: +49 (0) 69 / 79 20 94 – 150
Fax: +49 (0) 69 / 79 20 94 – 190
Email: mailto:[email protected]
Further material: http://presseportal.de/pm/76672/5280255
OTS: Association of Sparda Banks eV
AXC0003 2022-07-24/10:33
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