负利率之下，瑞士两家银行开始"劫富济贫"
来源：wind
欧洲实行负利率的国家越来越多，但这些国家的银行都保持着一个默契，即对存款利率保持正值，避免客户流失和其他未知的后果。但现在这一情况被两家瑞士的银行改变了。
瑞士的银行大多专注于财富管理，现在不得不在存贷业务上下功夫。显而易见，负利率背景下，现金存款业务导致亏损是情理之中的。因为要保持存款利率为正值，而借贷利率为负。既然如此，为什么不将存款利率降至负值，让客户将资金转向这些银行收费的资产管理业务呢？
在实行负利率政策（NIRP）之后，欧央行近期再一次降息。终于有一家瑞士银行将存款利率降为负值迈出了第一步：瑞银今年夏天宣布将富裕客户，即存款超过200万瑞士法郎的客户的存款利率降为负值。
现在，当欧洲地区的利率越来越低时，另一家瑞士银行瑞信（Credit Suisse）也开始将存款利率降为负值，同样是拿最富裕的客户群体开刀，一次来分担负利率背景下的存贷业务亏损。
瑞信的CEO Tidjane Thiam 早在该行的半年财报讨论会上就提前给出了预警，他表示，在瑞士，瑞信正在考虑对存款业务采取一些措施，以此缓解负利率的压力。与瑞银一样，瑞信也是针对特殊人群，即存款超过百万的群体。
据知情人士透露，瑞信预计，在对超过100万欧元的欧元账户征收0.4%的手续费后，也将对瑞士法郎存款账户开始收费。
负利率是否像央行一直希望的那样鼓励储户消费，还有待观察。无论如何，有一点是肯定的，将最具破坏性的货币政策的负面影响，转嫁给最终消费者和储户，其意外后果将是可怕和普遍的，并可能导致下一次金融危机。
瑞士法郎之前一直是知名的避险货币，币值波动与去中心化的比特币相似，这是其他法币难以做到的。但是，现在瑞银和瑞信都开始将存款利率降为负值，瑞士法郎的地位又将何去何从？
或者换句话说，当时心负利率的国家越来越多，已经实行负利率的国家利率变得更低时，传统的避险货币，如日元、欧元和美元，其避险价值会在银行将存款利率降为负值时再打折扣吗？即在负利率之下，什么是硬资产？
数周之前，贝莱德的CIO 试图回答这个问题，但他的答案是：负利率之下，没有硬资产，包括黄金也不是。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app！
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
