Links: 2013-06-04

As I wrote on the tech links this morning, I have started to comment more on the links post rather than just recapping the salient highlight in quote. I think this is important is because I can’t get to all of the issues covered in the links with my own posts and so I can give you a more comprehensive feel of what I am seeing and how I react to that news. I hope this is helpful.
The ECB, negative rate confusion and the prepay tax option | FT Alphaville
Banks are not going to work within the reserve system where holding reserves are penalized when they can work outside of that system. In essence this means negative rates cannot spur lending by penalizing banks to 'use' their excess reserves, whatever that means. Instead, negative rates will cause banks to try to get rid of their exce...

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