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UBS charges customers to deposit euros
... And they say gold doesn't pay interest.
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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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