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BNY Mellon weighs charging clients on euro deposits
July 18, 2012 / 2:07 PM / 5 years ago

BNY Mellon weighs charging clients on euro deposits

July 18 (Reuters) - BNY Mellon Corp, the world’s largest custody bank, is weighing whether to charge clients on their euro deposits, senior executives at the bank said on Wednesday.

BNY Mellon Chief Financial Officer Todd Gibbons told Reuters no decision has been made, but the bank is concerned about a build up in client euro deposits. He said there’s a possibility the bank would impose some kind of charge.

In the second quarter, noninterest-bearing client deposits surged by $20 billion, or 46 percent, to $63 billion.

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