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UBS to remove account balance fees from October 1 after SNB rate hike

ZURICH (Reuters) – UBS Group AG will scrap fees on private and corporate client accounts from Oct. 1 to offset negative interest rates after the Swiss National Bank raised policy Rates entered positive territory on Thursday, the bank said.

Credit Suisse said in an emailed statement that it will continue to monitor market conditions and may adjust rate conditions soon, but has stopped charging private customers negative rates from July 1.

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