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SNB committed to raising banks' negative rates exemption threshold

ZURICH, June 28 (Reuters) - The Swiss National Bank is committed to lessening the burden of the negative interest rates it charges commercial banks as part of its expansive monetary policy, governing board member Andrea Maechler said on Monday.

“We have tried to reduce the burden on the banks quite significantly with what we call the exemption threshold,” Maechler told an event organised by UBS in Zurich.

“We have been able to move it up, and we are committed to increasing the threshold, to make sure they pay as much as needed, but as little as possible to make sure the burden on the economy is really as low as possible.” (Reporting by John Revill; Editing by Kevin Liffey)

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