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Top related persons:
Jean Deboutte - 2 Sudip Kar - 2 Dado Ruvic - 1 Bonds - 1 Vincent Van Peteghem - 1 Isabelle Marchand - 1 Van Peteghem - 1 Marchand - 1
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Belgium Europe BRUSSELS Italy Portugal Belgian Amsterdam Brussels
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Thomson - 2 REUTERS - 1 Yoruk Bahceli - 1 Gupta - 1

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2 mentions found


☆ Belgium raises record 22 billion euros from savers in 'clear signal' for higher bank rates
  + stars: | 2023-09-04 | by ( Yoruk Bahceli | ) www.reuters.com   time to read: +4 min
It marks the biggest funding drive from households in Belgium's history and is likely Europe's biggest retail bond sale, the country's debt agency said on Monday. Equivalent to around 5% of Belgian deposits, it eclipses the 5.7 billion euros raised from savers at the height of the euro zone debt crisis in 2011 and beats the 18 billion euros Italy raised from savers earlier this year. European lenders awash with cash have resisted raising savings rates while market interest rates have surged as central banks fight inflation, prompting withdrawals by households looking for better returns. While demand for the bond is high, the country's biggest lenders are yet to raise rates paid on savings accounts. "This will be different for every bank, but the financial stability of every bank needs to be monitored closely."
Persons: Dado Ruvic, Bonds, Vincent Van Peteghem, Jean Deboutte, Isabelle Marchand, Van Peteghem, Marchand, Febelfin, Yoruk Bahceli, Bart Meijer, Sudip Kar, Dhara Ranasinghe, Ed Osmond Organizations: REUTERS, Reuters, Thomson Locations: Europe, Belgium, BRUSSELS, Italy, Portugal, Belgian
☆ Savers dash for Belgian bond aimed at pushing banks to raise deposit rates
  + stars: | 2023-08-24 | by ( Yoruk Bahceli | ) www.reuters.com   time to read: +2 min
Aug 25 (Reuters) - Belgium saw 4 billion euros of demand from savers for a new bond it launched on Thursday, its debt agency said, a strong start for the sale aimed at pressuring banks to raise their deposit rates. European lenders awash with cash have been resisting raising savings rates despite a surge in market interest rates as central banks fight inflation, prompting withdrawals by households looking for better returns elsewhere. "We want to boost competition and encourage banks to raise interest rates." On Thursday, the first day of the sale, savers bought 2.098 billion euros ($2.27 billion) of the bond, the debt agency said, followed by at least another 1.902 billion euros so far on Friday. But Jean Deboutte, director at Belgium's debt agency, noted some banks in Belgium had already raised their rates following plans for the new bond.
Persons: Jean Deboutte, Yoruk, Sudip Kar, Susan Fenton, Andrew Heavens Organizations: Yoruk Bahceli, Gupta, Thomson Locations: Belgium, Amsterdam, Brussels
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