October 13, 2022
Insist and You May Receive: Higher Rates on Bank Deposits
A low overnight deposit rate prompted one company’s treasury to push back and ask for a higher rate. The bank doubled it. Corporates that want to keep some cash in bank deposits as the Fed hikes interest rates but don’t like the rates they’re being offered should consider an inspirational example described by one assistant treasurer who said her treasury team told some of its banks, in essence, “Your rates aren’t good enough.” The AT discussed the approach during a…