End of Spanish ‘deposit war’ raises hopes for structured products
Central bank crackdown on loss-leading deposit rates could boost attractiveness of structured products.
As the so-called ‘deposit war' in Spain draws to a close, banks looking for alternatives could boost the Spanish structured products market by as much as 30% this year, according to some estimates.
Spanish savings banks have been battling with each other to offer the most attractive fixed-rate deposits - in some cases one-year deposits with rates of over 4%. This has left structured products struggling to compete at a time when rates are still low.
Many of these deposits are due to expire in
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