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Montevideo, September 26th 2023 - 03:40 UTC

Tag: Swiss National Bank (SNB)

  • Friday, October 18th 2019 - 09:38 UTC

    Credit Suisse will charge wealthy clients with large cash deposits

    A rate of -0.85per cent will be imposed on business customers with balances above 10 million francs.

    Credit Suisse will start charging wealthy clients with large cash deposits in Swiss francs, the latest Swiss bank to pass on negative interest rates to customers. Individual and business customers will be charged a rate of -0.75per cent on cash balances above 2 million Swiss francs (US$2.02 million), Switzerland's second-biggest lender said. Balances of less than 2 million francs will be unaffected.

  • Monday, August 3rd 2015 - 05:07 UTC

    Switzerland central bank announces 51bn dollars loss in six months

    The central bank warned it might not be able to share any profits with the government this year if results did not improve in the second half of 2015.

    Switzerland's central bank announced Friday it had suffered a loss of 50.1 billion francs ($51 billion, 47 billion Euros) in the first half of the year, down on the 16.1 billion francs in profit logged for the same period a year earlier.

  • Friday, January 16th 2015 - 06:15 UTC

    In a surprise move Swiss central bank abandons Euro peg: frank soars 30%

    Watchmaker Swatch saw its share price slump 15%. Swatch chief executive Nick Hayek called the decision “a tsunami” for Switzerland's economy.

    The Swiss franc soared as much as 30% in chaotic trade after the central bank abandoned the cap on the currency's value against the Euro. The Swiss National Bank (SNB) said the cap, introduced in September 2011, was no longer justified. It also cut a key interest rate from -0.25% to -0.75%, raising the amount investors pay to hold Swiss deposits.