POST Finance indicated that CCP deposits doubled over the past five years to around €3.5 billion.
A difficult situation for POST Finance, the Minister explained, as it is not authorised to act as a financial institution. In turn, this means that it currently has to deal with the full impact of negative interest rates.
One possible solution would involve shifting the costs to owners of postal current accounts with large deposits. However, the Minister stressed that no decision has so far been taken by POST.
POST Finance also clarified that it is aware of its significant social role, pointing out that one third of all CCP clients has no other bank account.
