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The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

Articles by SwissNationalBank

Swiss National Bank releases updated banknote app

10 days ago

Discover new 20 and 50-franc notes on mobile devices

The Swiss National Bank (SNB) is releasing an app for mobile devices, designed to help the public familiarise themselves with the new banknotes. The app – an updated version of the ‘50-franc’ app launched last year to accompany the issue of the new 50-franc note – is now called ‘Swiss Banknotes’ and can be downloaded free of charge from the Apple (itunes.apple.com) and Google Play (play.google.com) app stores. Anyone who has already downloaded the app can update their software via the relevant app store. It explains in an engaging way key information on the security features and interesting details about the design.

‘Swiss Banknotes’ is an augmented reality app which operates with the camera of asmartphone or tablet. When the device’s camera is positioned over a new 20 or 50-franc note, the app displays the note’s various security features and design elements. It is also possible to enlarge the individual features or watch a short video clip. Although the app helps users to explore the new banknotes, it cannot be used to test if a note is genuine.

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Swiss National Bank releases new 20-franc note

17 days ago

Second ninth-series note showcases Switzerland’s creativity
The Swiss National Bank (SNB) will begin issuing the new 20-franc note on 17 May 2017. It is the second of six denominations in the new banknote series to be released. The current eighth-series banknotes will remain legal tender until further notice.
The inspiration behind the new banknote series is ‘The many facets of Switzerland’. Each denomination depicts a typically Swiss characteristic, which is then illustrated graphically using a range of elements. The 20-franc note focuses on Switzerland’s creativity – expressed by light, the note’s key motif. Core design elements in the new series are the hand and the globe, which appear on every denomination.
As with the banknotes currently in circulation, the ninth series consists of six denominations; the colour scheme, too, remains the same. Accordingly, the main colour of the new 20-franc note is red. However, the format has been modified – the new notes are smaller and thus easier to handle. The combination of complex security features and sophisticated design provides state-of-the-art anti-counterfeiting protection.
The next denomination, the 10-franc note, will be issued on 18 October 2017. The remaining notes in the series will be issued subsequently at half-yearly or yearly intervals.

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2017-05-10 – Banknotes and coins – The new 20-franc note

17 days ago

The design of the new banknotes at a glance

In the ninth banknote series the Swiss National Bank is breaking new ground on the design front – it is moving away from the depiction of well-known personalities altogether. Each note in the new series depicts a typically Swiss characteristic, which is then illustrated graphically using a key motif. Each characteristic is communicated via an action, a Swiss location and various graphic elements. The inspiration behind the new banknote series is ‘The many facets of Switzerland’.
Click on the banknotes in the overview for information on the corresponding theme and key motif. Click on the 20 or 50-franc note for detailed information on the relevant note and its design elements.

 

20-franc note
The 20-franc note focuses on Switzerland’s creativity – expressed by light, the note’s key motif.

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2017-04-28 – – Decisions

29 days ago

The Swiss National Bank conducts Switzerland’s monetary policy as an independent central bank

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28.04.2017

Decisions

28.04.2017

Speech
Jean Studer:
Is the SNB’s institutional framework still appropriate to our times?

28.04.2017

Speech
Thomas Jordan:
Comments on the SNB’s monetary and investment policy

28.04.2017

SNB data portal
SNB balance sheet items end of March 2017

28.04.

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2017-04-28 – Shareholders – Decisions

29 days ago

Decisions of the General Meeting 2017 of Shareholders

Decisions of the 109th Ordinary General Meeting of Shareholders of the Swiss National Bank held on 28 April 2017
1. Approval of the financial report for 2016
The General Meeting of Shareholders approved the financial report for 2016.
2. Decision on the appropriation of the net profit – determination of the dividend
The General Meeting of Shareholders approved the payment of a dividend totaling CHF 1.5 million to shareholders as part of the profit appropriation.
3. Discharge of the Bank Council
The General Meeting of Shareholders granted discharge to the Bank Council.
4. Election of the Audit Board
The General Meeting of Shareholders appointed KPMG AG as the Audit Board for the 2017/2018 term of office.
5. Agenda items with motions submitted by shareholders according to art. 35 para. 2 of the National Bank Act
The General Meeting of Shareholders rejected shareholder motions to initiate procedures to amend art. 31 para. 1 and art. 47 of the National Bank Act with regard to profit distribution and the Audit Board’s independence, respectively.

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2017-04-28 – Speech – Jean Studer, President of the Bank Council: Is the SNB’s institutional framework still appropriate to our times?

29 days ago

Is the SNB’s institutional framework still appropriate to our times?
Jean Studer, President of the Bank Council

109th Ordinary General Meeting of Shareholders of the Swiss National Bank, 28.04.2017

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Central banks, including the SNB, have been in the focus of public interest for some time now. The unconventional measures that central banks have been forced to take in connection with the financial crisis in order to fulfil their monetary policy mandate are probably the main reason for this. In the case of Switzerland, these measures are, specifically: setting and subsequently discontinuing a minimum exchange rate, and introducing negative interest.
These events have also raised questions regarding the SNB’s institutional framework, as laid down primarily in the National Bank Act (NBA). Some were submitted in the form of parliamentary procedural requests, and a summary of the Federal Council’s response was published in its monetary policy report at the end of December 2016. Three key aspects for the SNB are its independence, transparency regarding its activities, and the size of the Governing Board.

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2017-04-28 – Speech – Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank: Comments on the SNB’s monetary and investment policy

29 days ago

Comments on the SNB’s monetary and investment policy
Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank

109th Ordinary General Meeting of Shareholders of the Swiss National Bank, 28.04.2017

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Against the backdrop of low inflation and underutilised production capacity in Switzerland, the Swiss National Bank (SNB) is maintaining its expansionary monetary policy. Global economic developments are largely positive, although the euro area has some catching up to do. The European Central Bank’s monetary policy remains expansionary.
The Swiss franc is still significantly overvalued. The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are necessary and appropriate to ease pressure on the Swiss franc. Negative interest has at least partially restored the traditional interest rate differential against other countries. When demand for the Swiss franc is particularly strong, the SNB supplies the market with additional francs by making foreign currency purchases.

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Interim results of the Swiss National Bank as at 31 March 2017

April 27, 2017

From the official news release

Interim results of the Swiss National Bank as at 31 March 2017

The Swiss National Bank (SNB) reports a profit of CHF 7.9 billion for the first quarter of 2017.

A valuation gain of CHF 2.2 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF 5.3 billion.

The SNB’s financial result depends largely on developments in the gold, foreign exchange and capital markets. Strong fluctuations are therefore to be expected, and only provisional conclusions are possible as regards the annual result.

The increasing volatility of SNB Earnings
Annual results are not really definite. Given that the SNB accumulates foreign currencies with interventions, they have huge swings.
But the SNB may lose 50 billion in one year and win 60 billion in the next year or vice verse

SNB Results Longterm 2016 – Click to enlarge

Profit on foreign currency positions
The net result on foreign currency positions amounted to CHF 5.3 billion.

Interest income accounted for CHF 2.1 billion and dividends for CHF 0.6 billion. Movements in bond prices differed from those in share prices. A loss of CHF 1.6 billion was recorded on interest-bearing paper and instruments.

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2017-04-27 – Money market debt register claims – Announcements and conditions for new money market debt register claims of the Swiss Confederation (in Swiss francs)

April 27, 2017

Money market debt register claims: Important legal information

ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBPAGE BY IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY.
THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS LOCATED IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR CERTAIN OTHER COUNTRIES.
Please read this notice carefully – it applies to all persons who view this webpage. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site.
Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of person may be allowed to view such materials. Any person who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.
In particular, it is not intended that any offering of the securities mentioned in such materials (the "Securities") would be made, or any documentation be sent, directly or indirectly, in or into, the United States, Australia, Canada, Japan, South Africa or certain other countries.

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2017-04-27 – Investment of assets – Foreign exchange reserves and Swiss franc bond investments

April 27, 2017

Foreign exchange reserves and Swiss franc bond investments (end of Q1 2017)

Investment structure at the end of Q1 2017
As at 31 March 2017, the key asset allocation data for the foreign exchange reserves and the Swiss franc bond investment portfolio were as follows (figures of previous quarter are indicated in brackets):

 

Foreign exchange reserves

CHF bond investments

Currency allocation, incl. derivatives positions

 

 

 

 

CHF

100%

(100%)

USD

35%

(33%)

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2017-04-25 – Money market debt register claims – Money market debt register claims of the Swiss Confederation: Results

April 25, 2017

Money market debt register claims: Important legal information

ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBPAGE BY IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY.
THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS LOCATED IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR CERTAIN OTHER COUNTRIES.
Please read this notice carefully – it applies to all persons who view this webpage. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site.
Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of person may be allowed to view such materials. Any person who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.
In particular, it is not intended that any offering of the securities mentioned in such materials (the "Securities") would be made, or any documentation be sent, directly or indirectly, in or into, the United States, Australia, Canada, Japan, South Africa or certain other countries.

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