Most European banks’ deposits hit as savers hunt for deals -S&P
By Iain Withers LONDON (Reuters) – A majority of large European banks reported a fall in deposits over the year to June 2023 as customers shopped around for better savings deals, according…
UK finance minister Hunt says banks are slow to pass on rate hikes to savers
LONDON (Reuters) – Britain’s finance minister Jeremy Hunt said on Monday that banks are too slow to pass on increases in central bank interest rates to savers and this is a problem…
Hunting for returns, savers dash for euro zone government debt
By Yoruk Bahceli (Reuters) – Savers across the euro zone are dashing for government debt to secure returns on their cash as banks struggle to keep up with surging interest rates. Leading…
A new surprise for U.S. savers: Turn 529s into retirement money
By Chris Taylor NEW YORK (Reuters) – When financial planner Larry Pon started reading about the SECURE 2.0 Act that overhauls retirement saving, he was shocked at the provision about college funds.…
Iran’s currency slides to record low as savers buy dollars
DUBAI (Reuters) – Iran’s rial currency sank to a record low against the U.S. dollar on Saturday despite central bank measures aimed at cooling demand for foreign currency from savers worried about…
Japan proposes expanding tax-free investment scheme for savers
By Tetsushi Kajimoto TOKYO (Reuters) – Japanese government on Friday called for doubling a tax-free stock investment programme for households, to encourage savers to put more money in riskier assets rather than…
Poland’s Kaczynski tells banks to give savers higher interest or expect more taxes
WARSAW – Polish banks will be taxed more if they don’t offer clients higher interest on their deposits, the leader of Poland’s ruling party said on Saturday, intensifying government pressure on the…
Exclusive-Banks tell Britain that curb on all Russian savers won’t work -sources
By Andrew MacAskill and Sinead Cruise LONDON – Banks in Britain have warned the government that a plan to ban all Russians from holding more than 50,000 pounds ($65,430) in their accounts…
China to expand wealth management pilot scheme for retirement savers – regulator
SHANGHAI – China will from March 1 expand a pilot scheme developing wealth management products aimed at retail investors looking to boost their retirement savings to more cities including Beijing and Shanghai,…
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