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CMAs Stirring Up as Base Rate Rises… Securities Firms Heat Up Interest Rate Competition
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Domestic securities firms are stepping up to secure customer funds by successively raising yields on Comprehensive Asset Management Accounts (CMAs). With the Bank of Korea raising the base interest rate in consecutive July and August, leading to higher deposit rates in the banking sector, securities firms appear to be jumping into a competition over CMA rates to prevent the outflow of funds awaiting investment. According to the financial invest…
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