UBS, Credit Suisse to levy fees on Swiss franc deposits from banks
ZURICH (Reuters) - Switzerland's largest banks said on Monday they will penalize banks holding Swiss franc deposits by imposing temporary fees and negative interest rates in a bid to stem inflows of the red-hot Swiss currency.
"We invite out customers to keep cash balances as low as possible to avoid negative credit charges," Credit Suisse (CSGN.VX) said in a statement to clients seen by Reuters.
"In cases where we see net inflows in cash clearing accounts above a certain threshold, we continue to take corrective action, by means of a temporary excess balance fee," UBS (UBSN.VX) said in a statement.
(Reporting By Katharina Bart)
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