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Bank of Ireland to charge for placing cash on deposit
Bank of Ireland to Charge for Placing Cash on Deposit
By Ciaran Hancock
The Irish Times, Dublin
Friday, August 19, 2016
Bank of Ireland is set to become the first domestic financial institution to charge customers for placing their money on deposit with the bank.
This unprecedented move comes months after the European Central Bank began charging financial institutions for depositing money with it by charging them 0.4 per cent to hold their cash overnight.
The Irish Times has learned that Bank of Ireland, which is 14 per cent owned by the State, has informed its large corporate and institutional customers that it plans to charge them for deposits of €10 million or more from October.
It is understood that a negative interest rate of 0.1 per cent will be applied to such deposits by Ireland’s biggest bank. ...
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Vanity Signs Option Agreement With Iamgold
to Purchase the Porcupine East Block
August 19, 2016
VANCOUVER, British Columbia, Canada -- Vanity Capital Inc. (TSX VENTURE: VYC) has entered an option agreement with Iamgold Corp. providing for an option to acquire a 100-percent interest in Iamgold's Porcupine Property in the Duparquet Township area of Quebec.
The option is exercisable by Vanity spending a minimum of $1.5 million on expenditures for exploration, which isto include the completion of a minimum 5,000 metres of diamond drilling on the property, within 24 months of the option. The option is also subject to Vanity's entering into an agreement to acquire an interest in an adjacent property. Upon Vanity's vesting its interest, Iamgold would retain a 2 percent net smelter royalty.
The option also provides Vanity with the right to renegotiate a pre-existing net smelter royalty of 3 percent held by certain third parties. ...
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