Some German lenders are beginning to charge retail customers for deposits.
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FRANKFURT: German savers are facing a tough question that's about to get tougher: Where to park their 1.95 trillion euros ($2.3 trillion) in cash and deposits as the European Central Bank whets its tools for more stimulus?German savers, who accounted for 17 percent of the euro area's 11.1 trillion euros of deposits by non-banks at the end of November, are already among the hardest hit by the ECB's record-low interest rates.German consumers with 10,000 euros to deposit for three months can receive a 0.5 percent interest rate, according to the average of 104 offers compiled by Tagesgeldvergleich.net.The country's savings banks, which held the largest share of German deposits at the end of 2013 at 38 percent, won't charge consumer clients for deposits, according to Georg Fahrenschon, the president of the savings banks association.The share of Germans unwilling to invest in riskier assets rose to 67 percent last month from 63 percent in late 2013, according to a survey of 946 people conducted by GfK SE for the BdB last month.
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