Keen to shore up their US dollar holdings because being Euro-denominated is “not the most competitive strategy at the moment”, European private banks are turning to their private banking clients as a source of dollar funding. BNP Paribas, for example, is offering private banking clients as much as 60 basis points over the LIBOR rate as interest on dollar deposits….
French bank offers private banking clients LIBOR+60 basis points on US dollar deposits
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