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Over 2015 and continuing into 2016, many central banks set negative interest rates for funds deposited with them. While initially, these were often viewed as short-term measures, they now appear to be policies with open-ended duration.

Interactive Brokers has absorbed the costs of these policies, and will continue to do so for smaller currency balances. However, with the announcement today that the Japanese central bank is also establishing negative rates, we are forced to recognize that such policies may be in place for a substantial period. As such, we must commence reflecting these market rates in our interest policies.

Starting 5 February 2016, IB will move to a credit interest policy for currencies with negative benchmarks (for example, EONIA, LIBOR, TIBOR, etc) where accounts with balances over approximately 100 thousand USD will be subject to a negative credit rate of Benchmark Rate minus 0.25%. Details by currency, as follows:

EUR: over 100'000 EUR, BM - 0.25% (as of this announcement, roughly -0.48%)
CHF: over 100'000 CHF, BM - 0.25% (as of this announcement, roughly -1.02%)
SEK: over 850'000 SEK, BM - 0.25% (as of this announcement, roughly -0.61%)

Small balances (less than the above thresholds) will still benefit from a 0% interest treatment on credit balances.

For the several currencies such as HKD, where the rate benchmark is near zero, but is not due to a specified central bank policy, we will continue to limit the interest for credit balances to 0%.



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