SNB announces changes to remuneration of sight deposits ...Middle East

This will kick into effect on 1 December 2023, with the SNB lowering the threshold factor for the remuneration of sight deposits of those account holders subject to the minimum reserve requirements from 28 to 25. For some context, the threshold factor is applied to this calculation here:And for added context, the remuneration is for Swiss sight deposits up to said threshold, which will see the SNB policy rate be applied. Sight deposits below said threshold will be remunerated at the SNB policy rate minus a discount of 0.50%.Besides that, the SNB also says that sight deposits which are held to meet minimum reserve requirements will no longer be remunerated. Hence, that means the entire minimu

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