Swiss alternative bank breaks negative rates taboo


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A tiny Swiss bank specialised in financing social and environmental projects will on January 1 go where no retail lender has gone before, applying negative interest rates on individual clients.

The Alternative Bank Schweiz (ABS) caused shockwaves with a letter sent to all clients in mid-October informing them that it would begin imposing interest charges on deposits in 2016.

http://news.yahoo.com/swiss-alternative-bank-breaks-negative-rates-taboo-055303880.html