A bank in Denmark has become the first there to impose negative interest rates on its customers' deposits.

A bank in Denmark has become the first there to impose negative interest rates on its customers' deposits.

 Under the new policy, account balances over one-point-one million dollars are charged a default rate of zero-point-six percent per year. An executive said the bank was making the change because it had “a significant and increasing deposit surplus and hence incurs large expenses in relation to these.” Other banks in the country are expected to follow suit.