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October 9, 2012

Depositors Fleeing Euro Get Negative Rates at State Street, BNY

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State Street Corp. (STT) and Bank of New York Mellon Corp., two of the world's biggest custody banks, will charge depositors to hold Danish kroner and Swiss francs as customers seek refuge from the crisis-stricken euro. State Street will apply a negative interest rate of 0.75 percent annually to... FF News: Fundamental

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