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The BNY Mellon apparently does not want money, not to lend, not at all. In a mad dash for cash Mellon has been flooded with it. Overnight lending rates went negative. Please consider BNY Mellon to Slap Fees on Some Big Deposits Amid Global Race to CashBank of New York Mellon Corp. is preparing to charge some large depositors to hold their cash, in the latest sign of the worries roiling global markets. The big U.S. custodial bank said this week in a note to clients that it will begin slapping a fee next week on customers that have vastly...

(Reuters) - Bank of New York Mellon Corp told some of its biggest depositors this week it does not want their money. BNY Mellon said it is charging a fee to big corporate and asset management clients that deposit more money than average, because it has been overwhelmed by deposits. Global economic turmoil -- including the Greek debt crisis and the U.S. debt ceiling debate -- has driven BNY Mellon's large clients to sell riskier assets and move the proceeds to deposit accounts. The flood of cash is likely to raise BNY Mellon's U.S. deposit insurance fees and could weaken...

Money market stress intensifies By Michael Mackenzie in New York Published: October 8 2008 19:44 | Last updated: October 8 2008 19:44 Stress across money markets intensified on Wednesday despite the unprecedented round of co-ordinated interest rate cuts by central banks aimed at helping banks gain access to funds. In recent days, central banks have pumped vast amounts of liquidity into the short-term lending markets, only for banks to hoard the cash and not lend to other banks. As well as the rate cuts, the US Treasury tried to alleviate lending problems in government bond markets by making more of...