ANZ Bank not quite ready for negative rates

Fri, 30 Oct 2020

ANZ Bank will be ready to cope with negative interest rates by the Reserve Bank's Dec. 1 deadline but is still working towards that, said chief executive Antonia Watson."There's still some work to do. There's way more to it than just systems, a bit like Y2K, there's legal documentation, discussing with clients – the Reserve Bank has acknowledged this is more likely to be in the wholesale space," Watson told BusinessDesk.Asked whether ANZ will start discouraging deposits if rates go negative, chief financial offic...

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