Reuters: US Dollar Report: BNY Mellon weighs charging clients on euro deposits

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BNY Mellon weighs charging clients on euro deposits Jul 18th 2012, 14:06 July 18 | Wed Jul 18, 2012 10:06am EDT July 18 (Reuters) - BNY Mellon Corp, the world's largest custody bank, is weighing whether to charge clients on their euro deposits, senior executives at the bank said on Wednesday. BNY Mellon Chief Financial Officer Todd Gibbons told Reuters no decision has been made, but the bank is concerned about a build up in client euro deposits. He said there's a possibility the bank would impose some kind of charge. In the second quarter, noninterest-bearing client deposits surged by $20 billion, or 46 percent, to $63 billion.

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