by George Dorgan
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After UBS and CS introduced negative interest rates for big clearing accounts, ZKB changes general conditions for a potential introduction of negative rates even for ordinary savers. Time to get in contact with Geneva cash storing warehouses? More about the ZKB move on Reuters.
One thing to be mentioned is that other banks do not need to change their general conditions to allow for negative rates.
Are you the author?George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers.
George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
Tags: Capital Controls,negative interest,negative interest rate,Switzerland
