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Rules Governing Payouts by Swiss National Bank

Summary:
The Federal Council informs that the Federal Department of Finance and the Swiss National Bank have agreed on rules that govern how profits of the Swiss National Bank (SNB) will be paid out during the period 2016 to 2020: Subject to a positive distribution reserve, the SNB will in future pay CHF 1 billion p.a. to the Confederation and cantons, as was previously the case. In future, however, omitted distributions will be compensated for in subsequent years if the distribution reserve allows this.

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The Federal Council informs that the Federal Department of Finance and the Swiss National Bank have agreed on rules that govern how profits of the Swiss National Bank (SNB) will be paid out during the period 2016 to 2020:

Subject to a positive distribution reserve, the SNB will in future pay CHF 1 billion p.a. to the Confederation and cantons, as was previously the case. In future, however, omitted distributions will be compensated for in subsequent years if the distribution reserve allows this.

Dirk Niepelt
Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Centre for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was an invited professor at the University of Lausanne as well as a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University.

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