Swiss get creative with negative rates

UBS, Switzerland’s biggest bank, cut the threshold for levying an annual 0.6% on deposits in half to 500,000 euros (US$549,000).

Zurich: In the Swiss canton of Zug, officials are going to extremes to avoid getting penalised by the world’s lowest interest rate.

To minimise the amount of cash on hand that would get hit with a charge, Zug’s treasury postponed recouping nearly a billion francs in capital gains tax revenue from the federal government.