Credit Suisse’s banking clients are to be charged for parking their cash with the Swiss bank after it announced plans to introduce negative rates on short-term deposits held by financial institutions in Swiss francs.

Swiss banks have been trying to stem inflows from investors seeking a haven from the eurozone crisis since the low interest rates put in place by the central bank make it hard for lenders to find ways to invest deposits profitably.

Tougher leverage requirements from the Swiss regulator are also pushing Swiss banks to reduce their balance sheets. Credit Suisse is aiming to cut its balance sheet by SFr130bn ($140.5bn) to less than SFr900bn over the next year, and said this cocktail of factors had prompted it to impose the charges on other financial institutions with which it deals.