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UBS mulling fee on Swiss franc deposits
UBS AG Friday said it may shortly begin to levy a temporary charge on Swiss franc deposits as a way of encouraging its bank customers to keep their cash in the surging Swiss currency as low as possible. The bank said in a statement distributed by Swift earlier Friday that "in view of the prevailing market conditions which in particular affect the Swiss franc, we are closely monitoring the development of the CHF cash balances maintained in current accounts of our CHF cash clearing customers." It added: "Should we see a continuation of the net inflow of CHF in cash clearing accounts of our banking customers, we ... (full story)
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