Swiss Won't Rethink 1,000-Franc Note as Draghi Hails Crime Fight
- Number of 1,000-franc bills in circulation has climbed
- Police say high-denomination notes enable illicit activity
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Swiss officials have no plans to follow the European Central Bank and consider withdrawing their highest-denomination banknote to help fight crime.
A day after ECB President Mario Draghi told lawmakers that there’s “increasing conviction” around the world that such bills are used for illegal purposes, Swiss National Bank Spokesman Walter Meier said by telephone that his institution “isn’t thinking about getting rid of the 1,000-franc note.”