European Central Bank 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 UBS 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.