JOHNSON COUNTY AREA NEWS, PUBLIC RECORDS AND PUBLIC NOTICES
 
The Legal Record
 
VOL. 118, NO. 5 ONLINE EDITION February 2, 2016
A WEEKLY COMMUNITY NEWSPAPER OF GENERAL CIRCULATION SERVING JOHNSON COUNTY, KANSAS
 
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Paying the bank interest to hold your deposits? What gives?
The idea sounds preposterous: Pay the bank to hold your money? But the Bank of Japan on Jan. 29 joined European central banks by introducing negative interest rates – that is, charging, not paying, for deposits. WHAT GIVES? The Japanese central bank surprised financial markets by announcing a 0.1 percent fee on some deposits by commercial banks. The central bank vowed to cut the interest rate further into negative territory “if judged as necessary.” WHY? By charging banks for parking...more for subscribers.
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