by The issuance of the ninth banknote series was concluded on 12 September 2019. The Swiss National Bank intends to communicate the statutory recall of the banknotes from the eighth series two months in advance in the first half of 2021. Notes from the eighth series will remain legal tender until they are recalled and may continue to be used or exchanged without restriction. After their recall by the SNB, the banknotes lose their status as legal tender. They can, however, be exchanged at the SNB counters in Berne and Zurich or at an SNB agency for an unlimited period of time. Further information is available on the SNB website. Download PDF You Might Also Like SNB COVID-19 refinancing facility expanded to
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The issuance of the ninth banknote series was concluded on 12 September 2019. The Swiss National Bank intends to communicate the statutory recall of the banknotes from the eighth series two months in advance in the first half of 2021.
Notes from the eighth series will remain legal tender until they are recalled and may continue to be used or exchanged without restriction.
After their recall by the SNB, the banknotes lose their status as legal tender. They can, however, be exchanged at the SNB counters in Berne and Zurich or at an SNB agency for an unlimited period of time.
Further information is available on the SNB website.
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SNB COVID-19 refinancing facility expanded to include cantonal loan guarantees as well as joint and several loan guarantees for startups
The Swiss National Bank announced the establishment of the SNB COVID-19 refinancing facility (CRF) on 25 March 2020. This facility allows banks to obtain liquidity from the SNB by assigning credit claims from corporate loans as collateral. In so doing, the SNB enables banks to expand their lending rapidly and on a large scale.
SNB’s swollen balance-sheet poses risk to ‘credibility’
When the Swiss National Bank (SNB) followed last year’s $50 billion (CHF48.6 billion) profit with a record $39 billion first-quarter loss, it was a stark illustration of the volatility created by a decade of unconventional monetary policy.
Economic cost of pandemic will be enormous: SNB chief
Coronavirus is costing between CHF11 billion and CHF17 billion a month, putting such a strain on the Swiss economy that it will take years to recover. Swiss National Bank (SNB) chairman Thomas Jordan has predicted the worst depression since the 1930s.
Weekly SNB Sight Deposits and Speculative Positions: Re-openings in the U.S.
Update May 11, 2020: Corona period: Sight Deposits have risen by 5.3 bn CHF, this means that the SNB is intervening and buying Euros and Dollars: The change is +5.3 bn. compared to last week.
Market sentiment have become positive during the last 2 or 3 weeks. But for many conservative investors the Swiss franc still serves as safe-haven.
Government Regulation against “Monopolies” Only Lowers Our Standard of Living
According to a popular way of thinking, monopolies undermine the efficient functioning of the market economy by being able to influence the prices and the quantity of products. Consequently, this undermines the well-being of individuals in the economy. By this way of thinking, the inefficiency emerges because of the deviation from the ideal state of the market as depicted by the “perfect competition” framework.
How Swiss cobalt traders are trying to prevent child labour
Swiss cobalt traders Glencore and Trafigura deal very differently with small-scale miners in the Democratic Republic of Congo (DRC), many of whom are children. Eight kilograms of cobalt are needed for every electric car battery. More than 70% of the increasingly sought-after metal is mined in the southeast of the DRC. But most of the miners are not employed by mining companies.
Negative News from Europe Helps Dollar Build on Gains
UK has been confirmed to have the highest death toll in Europe the dollar is getting more traction. Reports suggest Congress is resisting President Trump’s call for a payroll tax cut; ADP private sector jobs data is expected to come in at -21 mln. Brazil is expected to cut rates 50 bp; Fitch cut its outlook on Brazil to negative; Chile is expected to keep rates steady.
Surviving 2020 #3: Plans A, B and C
Readers ask for specific recommendations for successfully navigating the post-credit/speculative-bubble era and I try to do so while explaining the impossibility of the task. As the bogus prosperity economy built on exponential growth of debt implodes, we all seek ways to protect ourselves, our families and our worldly assets.
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