SNB raises bank reserve requirements

Calculation formula changed as central bank looks to save on interest payments

Swiss National Bank (SNB)
Jennifer Delaney

The Swiss National Bank (SNB) is raising domestic banks’ minimum reserve ratio from 2.5% to 4% from July 1, it announced on April 22.

It will also make cancellable customer deposits, excluding tied pension provisions, be included in full when calculating minimum reserve requirements. In the past, only 20% of these liabilities were included in the calculation.

The increase will reduce the SNB’s interest payments to banks. The central bank remunerates sight deposits from commercial banks, but not

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