back
Negative Interest Rates in Banking: Previous Case Law – Publication Now Available in Full Text
News
12 November 2025
The introduction of negative interest rates in January 2015 turned supposed certainties upside down: large savers were charged interest instead of receiving it. Conversely, some borrowers saw credits instead of debits. And interest rate swaps transformed from safety nets into snares.
Since June 20, 2025, the SNB policy rate has been 0%. As of today (November 12, 2025), the SARON is even slightly negative.
In their article published in 𝘳𝘦𝘤𝘩𝘵 in June 2025, Marc Grüninger and Martina Reber examine the case law to date on negative interest rates in banking.
The article can now be downloaded in full text.
An article by Marc Grüninger, Martina Reber
