SNB total sight deposits w.e. 20 June CHF 442.5 bn vs CHF 434.8 bn prior

• Domestic sight deposits CHF 430.0 bn vs CHF 426.7 bn prior

Swiss sight deposits picked up in the last week after two weeks of declines, keeping within range of what we’ve seen in recent months. Just note that the SNB has reintroduced tiered remuneration in sight deposits in its latest policy decision. That means punishing banks if they park too much cash with the central bank. This is largely to promote more liquidity in the Swiss money market.

This article was written by Justin Low at www.forexlive.com.