[14] This effect is economically significant and estimated to boost corporate investment by as much as 1 percentage point per annum. Chart 5 Investment growth of firms exposed to negative deposit rates (annual percentage changes)  Source: Altavilla, C. et al., op. cit.
Notes: Average investment for corporate clients of banks whose average non-financial counterparty deposit rate has been negative at least once, distinguishing between firms with a ratio of current assets over total assets in the top decile (high liquid asset holdings, blue line) and in the bottom decile (low liquid asset holdings, red line) of the distribution.