Switzerland: Swiss National Bank Introduces Negative Interest Rate on Deposits
Switzerland’s central bank, Swiss National Bank will introduce a negative interest rate on deposit accounts.
The SNB said that from 22 January 2015 they would charge an interest rate of 0.25% on deposit accounts with balances of more than CHF 10 million held with them.
At this time we are not aware of any impact for our customers but will continue to monitor the situation, and inform customers if this situation changes.
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