Loans at zero cost – Corona-crisis is to claim that the banks ‘ profit machine for banks that earn little to nothing to the Covid credits. Here, you can get up to 375 million.Arthur Rutishauser0 comment given to the banks by the national Bank about a 10 billion Swiss franc liquidity, the SNB chief, Thomas Jordan. Photo: Keystone
As the SNB on Thursday announced that it has placed the commercial banks of around 10 billion Swiss francs of liquidity available, so you can Not make sorry for commercial loans available. (Read here how the Swiss national Bank declared monetary policy) For this money, the banks must not only pay no interest, you even get a negative interest rate of 0.75 percent, or 75 million francs per year. For a term of five years, that adds up to 375 million Swiss francs.
The bad companies get up to half a Million at zero rate, who is even more that pays 0.5 percent interest rate. The 375 million, the gross margin, which remains in the banks are so. Now it can be even more, because Covid loans can be obtained until the end of July. Some companies pay back but also your loans. In addition, start-up costs were incurred in lending. Future credit losses, however, are covered by the Federal government.
Once the banks were paying 2 billion
UBS and Credit Suisse to confirm on request that you want to donate any profit. So far, however, gone still nothing. The other banks keep the money. ZKB claims, such as the bankers Association, you deserve nothing of the Covid credits. In addition, the banks benefit, however, from facilitations with regard to the negative interest rates. Two years ago they paid around 2 billion per year to the SNB.
Already, last fall, the SNB increased the interest-free limit, so that the amount halved. In the Wake of the Corona-crisis, the SNB increased the exemption limit again. This leads to the decision of the national Council from the Wednesday to the point of absurdity, wants to divert the income of the national Bank from the negative interest rates in the AHV. Including paid negative interest rates it’s because a maximum of 300 million Swiss francs.
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