The latest podcast episode brings together KBRA’s Joan Feldbaum-Vidra, Managing Director and Head of Sovereigns, and Ethan Heisler, Editor of The Bank Treasury Newsletter, who published an NIRP report in September 2020. Citing key takeaways from the report, they note that NIRP has not fully delivered on its promises and, as a policy tool, showed shortcomings given that negative rates cannot fall below the storage cost of money.