U.S. banks are preparing to slash interest payments on corporate deposits as the Federal Reserve’s recent rate cuts take effect. Following the Fed’s decision in September to lower its benchmark rate by 50 basis points, the first reduction in over four years, U.S. financial institutions are focusing on corporate deposits as a key area to maintain profit margins amid declining interest levels, according to a report from the Financial Times. Corporate Deposit Rates Come Under PressureIn the wake of the Federal Reserve’s rapid rate hikes through 2022 and early 2023, banks increased interest paymen…
