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MNI BRIEF: SNB Ups Minimum Reserve Requirements

(MNI) LONDON
(MNI) London

Swiss central bank ups bank reserve holding requirments to help cut costs on interest payments.

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The Swiss National Bank is raising the minimum reserve requirement for domestic banks to 4% from 2.5%, an emailed statement on Monday said.

Liabilities arising from cancellable customer deposits will now be included in full in the calculation of the minimum reserve requirement, as is the case with other relevant liabilities, the statement added. The SNB said the adjustments will ensure that the implementation of monetary policy remains effective and efficient.

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The Swiss National Bank is raising the minimum reserve requirement for domestic banks to 4% from 2.5%, an emailed statement on Monday said.

Liabilities arising from cancellable customer deposits will now be included in full in the calculation of the minimum reserve requirement, as is the case with other relevant liabilities, the statement added. The SNB said the adjustments will ensure that the implementation of monetary policy remains effective and efficient.

Keep reading...Show less