Asian stock markets are mostly higher ahead of a U.S. inflation update and a Federal Reserve decision on another possible interest rate hike.

Credit Suisse says its chairman has resigned following an internal investigation that reportedly turned up that he had violated quarantine rules intended to fight the COVID-19 pandemic.

Joe Raedle/Getty Images(CNN) - Instead of paying interest on deposits, Swiss banks are starting to charge wealthy customers to stash their cash. Credit Suisse said Friday that the bank would apply a negative 0.75% interest rate to balances above 2 million Swiss francs ($2 million). This means that if an individual client or business holds 3 million Swiss francs ($3 million) with the bank for one year, they would be charged a fee of 7,500 Swiss francs ($7,600). For business customers holding more than 10 million francs ($10.1 million), the levy on funds above that mark rises to 0.85%. With no end to negative rates in sight, frustrated Swiss banks are passing some of the pain to their most affluent customers.

(CNN) - Even as the Brexit chaos helps to deflate London's real estate bubble by undermining the city's status as a financial capital, record low interest rates are pushing prices in other European cities to dangerously high levels. The greatest risk of a real estate bubble currently exists in the southern German city of Munich, according to a new report by analysts at Swiss bank UBS. Now in its fifth year, the UBS Global Real Estate Bubble Index analyzes residential property prices in 24 major cities by examining trends in the relationships between prices, incomes, rent costs, economic growth and construction activity. Still, low interest rates have played an even bigger role in boosting real estate valuations in countries that use the euro, one of the report's authors, Matthias Holzhey, told CNN Business. London still unaffordable despite BrexitBrexit, which gave rise to uncertainty about the city's future standing in Europe, had weighed on London property prices, said Holzhey.