CHF ICYMI: Swiss National Bank to scrap interest paid on minimum reserves (ECB to follow?)

Justin had the Swiss National Bank news as it hit:

In Switzerland, from December 1:

  • sight deposits held to meet minimum reserve requirements will no longer be remunerated
  • banks will be paid the SNB’s policy rate, currently 1.75%, on deposits equivalent to 25 times their minimum reserve requirements, down from 28 times

More at Justin’s post.

Its no secret that the European Central Bank is considering ways to reduce interest payments to the euro zone’s commercial lenders early in 2024.

This article was written by Eamonn Sheridan at Source