Want to pay just 1 per cent interest for your loan? You need to be one of the richest 1 per cent

That’s about the rate at which US casino billionaire Steve Wynn is borrowing against his extensive art collection as wealth management firms push to win business from the world’s ultra- rich. The gambling mogul pledged 59 works of art as collateral for a loan from Bank of America, one of several steps he recently took to raise cash, according to interviews and regulatory filings.