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Swiss National Bank Adjusts Liquidity-Lack Financing Rate

The Swiss National Bank will adjust the special rate on its liquidity-shortage financing facility and conduct additional open market repo operations as needed to provide money market liquidity, it said.

“As before, the special rate will be calculated as the SNB policy rate plus a surcharge of 50 basis points,” the central bank said on Monday. “However, the lower limit for the special rate is to be reduced to at least 0%, down from the current level of at least 0.5%,” it said, noting the changes would be effective from July 1. (Reporting by John Revill; Editing by Michael Shields)

Source: Reuters

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