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ING BUSINESS ACCOUNT IMPORTANT INFORMATION

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Dear Market Participant,

Following the negative credit interest on EUR deposits, ING Luxembourg, our banking partner, has informed JAO that there will be an increase of the negative credit interest from EURIBOR 1M -10bps to EURIBOR 1M -20bps. The change will be effective as per 1st of September 2020.

The free threshold on your bank accounts is still EUR 500K, which means that the negative interest will be accounted for on the euro amounts above a buffer amount of EUR 500K held on your business account.

Please bear these additional costs in mind when keeping sufficient funds on your business account as collateral for trading. We would like to remind you of the possibility to use a bank guarantee as collateral instead of cash deposits.

The finance team is available for any questions you may have (finance@jao.eu).

 

Kind regards,

 

Finance Team

JAO S.A.