Swiss National Bank raises reserve requirement for domestic banks from 2.5% to 4% starting July 1.

Swiss National Bank (SNB) raises reserve requirement for domestic banks from 2.5% to 4% starting July 1, targeting reduced payouts to lenders like UBS Group AG. This move aims to lower SNB's interest expenses on bank deposits and follows SNB's reported losses in 2022 and 2023. The increase will lead to lower outflows for the SNB, while maintaining the current monetary policy stance.