SWISS BANKS BEGIN OFFERING ALLOCATED GOLD & SILVER ACCOUNTS

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Swiss banks, UBS and Credit Suisse, have moved to offer allocated gold and silver accounts to their clients – including high net worth, hedge funds, other banks and institutions

The move allows these entities to take direct ownership of their bullion in allocated accounts.

According to the Financial Times, the banks say that they are making the move in order to reduce exposure and risks on balance sheets and in an effort to be more transparent.  

“Under more common “unallocated” gold accounts, depositors’ bullion appears on the banks’ balance sheets, forcing them to increase their capital reserves. Like their global peers, UBS and Credit Suisse are under pressure from regulators to reduce capital-intensive activities ahead of the introduction of new Basel III global banking rules.” 

It is more likely that the banks made the move to allocated storage due to an increased preference from their investors who are weary of continuing systemic risk.

Silver Doctors – JANUARY 30, 2013 BY 

http://www.MissionMining.com 

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US Gold and Silver Mining - Our Nevada & California mining properties are anticipated to hold extremely large precious metals resources. The Company has posted over $400 Million in Assets in its OTC Filings. Come join us!
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