Federal Council leaves interest rates for COVID-19 credits unchanged
Bern, 27.03.2024 - During its meeting on 27 March 2024, the Federal Council decided to leave the interest rates for outstanding COVID-19 credits unchanged as of 31 March 2024. The interest rate will remain at 1.5% for credits up to CHF 500,000 and 2% for credits exceeding CHF 500,000.
The COVID-19 Joint and Several Guarantee Act makes provision for the Federal Council to adjust the interest rates on COVID-19 credits in line with market developments on 31 March of every year. When setting the interest rates for COVID-19 credits, the Federal Council takes various factors into account, including the level of the SNB policy rate. This has stood at 1.5% since 22 March 2024 and is the interest rate that has applied to credits up to CHF 500,000 since 1 April 2023. An interest rate of 2% applies to credits over CHF 500,000.
During its meeting on 27 March 2024, the Federal Council decided to leave the interest rates for outstanding COVID-19 credits unchanged. The interest rates are an incentive not to hold COVID-19 credits any longer than necessary. This reflects both the original aims of the credit programme – bridging COVID-19-related liquidity shortfalls – and taxpayers' interest in having as few defaults as possible.
Address for enquiries
Communications, State Secretariat for International Finance SIF
Tel. +41 58 462 46 16, info@sif.admin.ch
Publisher
The Federal Council
https://www.admin.ch/gov/en/start.html
State Secretariat for International Financial Matters
http://www.sif.admin.ch
