Switzerland: Swiss National Bank introduced negative interest rate on deposits
Further to our announcement A15017, dated 23 January 2015, Clearstream Banking1 would like to inform customers that Switzerland’s central bank, Swiss National Bank (SNB), has introduced a negative interest rate on deposit accounts.
Impact on customers
The SNB are charging a negative interest rate of 0.75% on deposit accounts.
Clearstream Banking advises that customers with positive CHF balances are subject to negative interest rates. Due to current market conditions Clearstream Banking are unable to provide advice regarding a minimum negative rate. Negative rates applied are based on daily overnight money market rates.
Customers should note that the credit interest rate may be subject to change without prior notice.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.