Swiss Financial Authorities Explore Bank Withdrawal Limits and Exit Fees, Reveals Controversial Report
The Swiss National Bank and the Swiss Finance Ministry are actively exploring measures to restrict the outflow of funds from banks. Particularly targeting wealthy clients. As revealed in a recent contentious report.
Discussions are centered around implementing measures to prevent bank runs following the collapse of Credit Suisse earlier this year. Sources familiar with the matter indicate that potential solutions. Include staggering withdrawals over extended periods and imposing exit fees for high-net-worth clients. Additionally, the group is considering offering higher interest rates to customers who choose to lock up their savings long-term.
While the Finance Ministry initially described these discussions as part of a broader inquiry into the country’s financial regulatory framework, Finance Minister Karin Keller-Sutter later clarified that staggered withdrawals are not under consideration. This move follows the collapse of Credit Suisse in March, prompting urgent actions and significant financial injections to stabilize the banking sector.
Clever Robot News Desk 6th November 2023
