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Major Swiss banks ‘raise bullion holding charges’

Posted on 31 January 2013

Two major Swiss banks have vastly increased their charges to store bullion, it has emerged. Insiders with knowledge of the situation have informed the Financial Times that UBS and Credit Suisse have ramped up their fees for holding gold by around 20 per cent in an attempt to reduce the size of their balance sheets.
Switzerland has traditionally been regarded by commodities traders as the best place to stash bullion, although this trend may now change as banks in the country are becoming increasingly reluctant to offer “unallocated” accounts………………………………………..Full Article: Source


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