How the other half lives: Switzerland issues new thousand-franc notes despite concerns that high-value bills facilitate tax evasion and crime
ZURICH—Switzerland’s central bank defended its issuance of one-thousand-franc notes, launching a new series when other countries are scaling back big-value bank notes due to worries that they make life easier for criminals.
The thousand-franc bill is by far the most widely circulated in Switzerland in terms of value, and its circulation has risen sharply since the financial crisis 10 years ago and Europe’s ensuing debt crisis, which forced central banks, including Switzerland’s, to install negative interest rates.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed Chief Powell on mounting US deficit: It would be a 'very big deal' to not pay our bills when dueFederal Reserve Chairman Jerome Powell began his two-day semiannual testimony Tuesday before a Senate committee.
Read more »
Fed Chief Powell on mounting US debt: It would be a 'very big deal' to not pay our bills when due'The idea that the U.S. would not honor all of its obligations and pay them when due is something that can’t even be considered,” Fed's Powell said in front of Congress yesterday.
Read more »
Here are the 3 reasons big investing firms have been plowing an unprecedented amount of money into ETFsBig investing firms kept pouring money into ETFs in 2018, and a survey of their leaders found three major reasons the trend should continue.
Read more »
Stocks making the biggest moves after hours: L Brands, Square, HP and moreSee which stocks are posting big moves after the bell on February 27.
Read more »
Mexico's Pemex eyes new oilfields after another year of big lossesMexico's national oil company Pemex narrowed its multibillion-dollar losses...
Read more »
5G Is Still Tomorrow’s Dream for Big Tech. Expect a Slow Rollout.Some tech executives at Mobile World Congress did something this week they rarely do in public: They admitted being wrong about a cutting-edge technology, even to overhyping it for years.
Read more »