Investing.com - Financial Markets Worldwide
⚠ NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

NewsBreak: Swiss National Bank Eases Penalty Rate for Banks

Published 19/09/2019, 08:28
© Reuters.
USD/CHF
-
EUR/CHF
-

Investing.com -- The Swiss National Bank left its key interest rate unchanged Thursday but took steps to reduce the penalty that banks pay on excess reserves, a week after the European Central Bank took similar action to protect euro zone banks against the harmful side-effects of negative rates. The SNB said the volume of excess reserves that will be remunerated at the penalty rate will be reviewed on a monthly basis.

  • "The adjustment raises the exemption threshold for the banking system and reduces negative interest income for the SNB" - statement

  • New regime to come into force from Nov. 1

  • USD/CHF falls to 0.9938 after announcement, from 0.9980 immediately before the news.

  • EUR/CHF falls to 1.0967 from 1.1013 beforehand.

  • The dollar had hit a three-month high against the franc on Wednesday after the Federal Reserve produced a comparatively hawkish outlook for its monetary policy.

    Latest comments

    Install Our App
    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.