The head of investments at Finland’s Ilmarinen Mutual Pension Insurance Co. says his industry is “just starting to see what kind of new challenges negative rates will cause.” The steps he’s taken so far have led away from easy-to-sell assets, as liquidity becomes a luxury. It’s a way to preserve returns, but means delving into assets that might be hard to offload.

An extended period of negative or record low interest rates has put huge pressure on pension funds in the Netherlands. Assets in pension funds in the Netherlands total $1.5 trillion. These entities count on bonds for stable returns to fund payouts to pensioners. The stricter, more reliable pension systems could be the ones to face complications.

From London to Switzerland to parts of the U.S., the rich are looking to store precious metals, cash and cryptocurrency. For some, it’s the threat of a global recession. Others are avoiding bank deposits as negative interest rates force lenders to charge for holding cash. Many are concerned about natural disasters.

The technology giant said last week it’s exploring how it can partner with banks to offer checking accounts through its Google Pay app. Citigroup Inc. and a California credit union signed on as initial partners for the effort – a move that could help them pick up extra customers as the industry contends with slowing growth in deposits.

A new business field could open for German banks from 2020: the sale and custody of Bitcoin and other crypto currencies. The draft law passed by the German parliament will make this easier. Banks will be able to offer to their clients in online banking in addition to classic securities such as shares and bonds also the buying of crypto currencies.

The plunge in interest rates is wreaking havoc on funds. In the Netherlands, the government has come under pressure to change retirement system rules so schemes can effectively shrink deficit. One of the Netherland’s biggest industry-sector funds plans to cut the pensions by up to 10%. Millions more around the world are facing the same retirement insecurity.

In a recent UBS survey of wealthy investors and entrepreneurs, U.S. investors reported having 21% of their portfolios in cash, on average. Over the last 40 years, the dollar has done more declining than appreciating. If you’re earning 1% or 2% on your cash and the dollar starts to fall, you will see your purchasing power erode very quickly.

The idea of investing in private pension insurance should be suppressed, because new contracts are hardly worthwhile. Classic private annuity policies offer new customers only a maximum guaranteed interest of 0.9 percent. Negative interest is to blame. Pension insurers are now increasingly investing in equities, real estate and renewable energies.

The European Central Bank should consider issuing a public digital currency, an EU draft document said. In its most ambitious version, the project could allow consumers to use electronic cash, which would be directly deposited at the ECB, without the need for bank accounts, financial intermediaries or clearing counterparties.

The Swiss National Bank's new system means less of banks’ reserves get hit. But it gives the central bank more room to push rates even further below zero, if the economic situation deteriorates or the franc starts to appreciate. Banks are finally realizing that negative rates are going to be around for a long time.

At Sydbank A/S, EO Karen Frosig says she’s going to need to pass on negative rates to a record number of retail depositors. She also said she may need to cut the rate on their accounts below the central bank’s benchmark of minus 0.75%. In Denmark, the central bank uses negative rates for the sole purpose of defending the krone’s peg to the euro.

The market for green bonds has exploded, with global sales increasing by more than 300% in the past five years to reach $162 billion this year. The Bloomberg Barclays Euro Green Bond Index shows a total return of 18% since 2014. Investors appear entirely unwilling to forgo wealth to invest in environmentally sustainable projects.