The Swiss National Bank said on Monday it is raising the minimum reserve requirement for domestic banks and will therefore amend the National Bank Ordinance as of July 1. "These adjustments will ensure that implementation of the SNB's monetary policy remains effective and efficient," the Swiss central bank said in a statement. Liabilities arising from cancellable customer deposits, excluding tied pension provision, will in future be included in full in the calculation of the minimum reserve requirement, as is the case with the other relevant liabilities, it said. This revokes the previous exception whereby only 20% ... (full story)