UBS is to collect from May this year an annual fee of £1 million on loans with over € 1 m ( $ 1.1 million ) in relation to the very low or negative inflation Central Bank rates which have eaten into the Swiss banks ' margins .
UBS is to introduce from May this year an annual fee of 0.6% on accounts with over €1m ($1.1m) in response to the very low or negative European Central Bank rates which have eaten into the Swiss banks' margins.