Siemens (SI) withdrew more than €500M from a large French bank and deposited it with...

|About: Siemens AG ADR (SIEGY)|By:, SA News Editor

Siemens (SI) withdrew more than €500M from a large French bank and deposited it with the ECB 2 weeks ago. In total, Siemens has €4-€6B parked at the central bank. A source says the company is concerned about the health of the unnamed French lender and also gets a better interest rate from the ECB.