Negative interest

The Swiss National Bank (SNB) has announced the introduction of negative interest and has therefore amended the Terms of Business for sight deposit account balances at the SNB. Negative interest will only be charged on the portion of the sight deposit account balance which exceeds a given exemption threshold defined by the SNB. The level of the threshold is based on the minimum reserve requirement and will be set individually for each bank.

Instruction sheet

Instruction sheet governing negative interest on sight deposit account balances