Bank Of New York Mellon To Pay Negative Interest Rate for Very Large Cash Deposits

The Bank of New York Mellon will begin paying negative interest rates on very large cash savings deposits, over $50 million, this week.

As an aside, we wonder why the Fed does not similarly reduce the interest they pay on bank reserve deposits with them to zero from the current .25 percent? 

It should be noted that Bank of New York Mellon has a current dividend yield of 2.06%. Are those