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UBS charges customers to deposit euros

Chris Powell

GATA

Published : March 24th, 2017

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FOLLOW : Bank Banks Cash Central Central Bank Companies Ecb European European Central Bank Euros Georgia Growth Interest Liquidity London Policy Rates Report Swiss Ubs

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	* * * From the British Broadcasting Corp., London Wednesday, March 22, 2017 Swiss bank UBS will start charging customers who deposit more than a million euros, as negative interest rates hit banks' profits. The annual 0.6 percent charge will take affect from May. UBS already imposes charges for large accounts held in Swiss francs by companies and some wealthy clients. Banks' profits have been hit by the European Central Bank's policy of stimulating growth through negative interest rates and increased liquidity. The ECB penalises banks that store euros with it in an effort to make them lend rather than hoard their cash. ... ... For the remainder of the report: http://www.bbc.com/news/business-39349399

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Chris Powell 13 abonnés

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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