Switzerland. Is this true?

Quote from bearice:

Does this mean Swiss banks and Switzerland pay bank interest and interest for $4 Trillion deposited in Switzerland?
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I presume they do pay interest on saving accounts (unless it's "Islamic finance"). It's not like Swiss law forbids it.

How high this interest is in the current environment is a different question.
 
I think the OP may be referring to the fact that rates in Switzerland at the moment are so low (3M CHF LIBOR is at 0.17%), you get no interest paid on your deposits.
 
Quote from Martinghoul:

I think the OP may be referring to the fact that rates in Switzerland at the moment are so low (3M CHF LIBOR is at 0.17%), you get no interest paid on your deposits.
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Godd point... but what about accounts held in Switzerland in foreign currencies such as Euro?
 
Quote from Martinghoul:

I think the OP may be referring to the fact that rates in Switzerland at the moment are so low (3M CHF LIBOR is at 0.17%), you get no interest paid on your deposits.
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The is the way of the future. There will be negative return on investments from now on.
 
Quote from LeeD:
Godd point... but what about accounts held in Switzerland in foreign currencies such as Euro?
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My guess is that they pay somewhere in the vicinity of Euribor (which, for 3M, is 1.051%). It doesn't really matter, 'cause the current rate differential isn't enough to compensate you for holding EUR rather than Sfr.
Quote from morganist:
The is the way of the future. There will be negative return on investments from now on.
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Huh? Like everywhere and forever?
 
Quote from jeb9999:

"35% of world money deposited in Switzerland" is complete nonsense.

Here is a list of the top 50 banks in the world by assets http://topforeignstocks.com/2010/09/24/the-worlds-50-biggest-banks-by-assets-2010/

There are only two Swiss banks on the list at number 20 and number 27. Swiss banks would be fortunate to have 3% of world deposits.
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How do you know Swiss Banks report all the money? Why should we trust to entities refusing to disclose their customers?

:confused:
 
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