the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for … they do not pass negative rates to retail customers, in turn investing more in securities, especially in those yielding … higher returns. Effects are stronger for less capitalized banks, private sector (financial and non-financial) securities and …

the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for … they do not pass negative rates to retail customers, in turn investing more in securities, especially in those yielding … higher returns. Effects are stronger for less capitalized banks, private sector (financial and non-financial) securities and …

the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for … they do not pass negative rates to retail customers, in turn investing more in securities, especially in those yielding … higher returns. Effects are stronger for less capitalized banks, private‐sector (financial and nonfinancial) securities and …

the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for … they do not pass negative rates to retail customers, in turn investing more in securities, especially in those yielding … higher returns. Effects are stronger for less capitalized banks, private sector (financial and non-financial) securities and …

the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for … they do not pass negative rates to retail customers, in turn investing more in securities, especially in those yielding … higher returns. Effects are stronger for less capitalized banks, private sector (financial and non-financial) securities and …