UBS AG (UBSN), Switzerland’s biggest bank, will start charging financial institutional clients for cash balances held in Swiss francs from Dec. 21. “Due to the continued prevailing market situation affecting the Swiss franc, we have decided to take additional corrective actions,” according to a notice published on the Swift system yesterday and made available by UBS. “As a consequence, we will start applying a charge for credit balances maintained by financial institutions in their Swiss franc accounts with UBS in Zurich.” UBS said charges would be communicated individually to clients within days, adding that “we ... (full story)