by The Swiss National Bank is today publishing financial accounts data for Q4 2021. Data on household wealth are thus available for the whole of 2021; a commentary is provided below. This is followed by a detailed look at the development of the financial net worth of the Swiss economy’s institutional sectors since the onset of the coronavirus pandemic. Financial wealth of households increased significantly in 2021 Household financial assets increased by CHF 202 billion to CHF 3,037 billion (up 7.1%) in 2021. This significant rise was due to both capital gains and transactions: On the one hand, households benefited from rising stock market prices; on the other, they purchased securities and increased their occupational pension entitlements. The increase observed in
Topics:
Swiss National Bank considers the following as important: 1) SNB and CHF, 1.) SNB Press Releases, Featured, newsletter
This could be interesting, too:
RIA Team writes The Benefits of Starting Retirement Planning Early in Your Career
Swissinfo writes Swiss residential real estate to remain in demand in 2025
Thomas J. DiLorenzo writes Stakeholder Capitalism and the Corporate KPI Cult
Swissinfo writes Parliament stalemate on abolishing Swiss homeowner tax
The Swiss National Bank is today publishing financial accounts data for Q4 2021. Data on household wealth are thus available for the whole of 2021; a commentary is provided below. This is followed by a detailed look at the development of the financial net worth of the Swiss economy’s institutional sectors since the onset of the coronavirus pandemic.
Financial wealth of households increased significantly in 2021
Household financial assets increased by CHF 202 billion to CHF 3,037 billion (up 7.1%) in 2021. This significant rise was due to both capital gains and transactions: On the one hand, households benefited from rising stock market prices; on the other, they purchased securities and increased their occupational pension entitlements. The increase observed in the previous year thus continued. |
 . |
| Household liabilities, mainly mortgages, grew steadily over the course of 2021. Overall, they rose by CHF 31 billion to CHF 967 billion (up 3.3%).
Financial net worth (financial assets less liabilities) thus increased by CHF 171 billion to CHF 2,070 billion (up 9.0%). The share of the increase in financial net worth due to transactions – designated ‘net lending/net borrowing’ – amounted to CHF 65 billion in 2021. This figure is high by historical standards, as in 2020 when it came to a record total of CHF 77 billion. This development is in line with the high savings rate of households during the coronavirus pandemic. |
 . |
New high for household real estate wealth
Alongside financial assets, real estate assets play an important role in household wealth. At the end of 2021, the market value of real estate assets held by households rose to a new high of CHF 2,382 billion (up CHF 176 billion). This year-on-year increase of 8% was due in particular to rising property prices. |
 . |
Development of financial net worth of domestic sectors since onset of coronavirus pandemicIn addition to household wealth, the Swiss financial accounts also show the financial assets and liabilities of the domestic sectors of the economy, as both stocks and flows. How has the financial net worth of the sectors evolved since the onset of the coronavirus pandemic? Between end-2019 and end-2021, the financial net worth of the domestic sectors increased by a total of CHF 21 billion to CHF 679 billion (up 3.1%). An increase was recorded for households1 (up CHF 252 billion or 13.3%), financial corporations (up CHF 105 billion or 263.4%) and general government (up CHF 20 billion or 15.5%), with all sectors benefiting from capital gains. The financial net worth of the general government sector recorded a new high at the end of 2021; the issuance of debt securities (transactions) was offset by capital gains – especially on the shares in SNB equity capital.2 The strong rise in the financial net worth of financial corporations was due not only to capital gains but also to a reduction in liabilities: Foreign investors reduced their participating interests in financial corporations in Switzerland. The financial net worth of non-financial corporations, on the other hand, decreased over the last two years by CHF 356 billion or 25.3%. Structurally, non-financial corporations have negative financial net worth, as – by definition – non-financial assets do not count towards financial net worth and their equity capital is recorded at market value. The higher stock market prices therefore caused a corresponding rise in financial liabilities and thus a decline in the financial net worth of non-financial corporations. 1 Incl. non-profit institutions serving households |
 . |
Data offering on Switzerland’s financial accounts
Data on the financial accounts and household wealth can be accessed on the data portal in the form of charts and configurable tables. Annual data are currently available for the period 1999 to 2021. Quarterly data are available from Q4 2014 to Q4 2021. Detailed notes on the methods used for the financial accounts and information on changes and revisions can also be found on the data portal.
You Might Also Like
Macro Week 2022: Thomas Jordan
2022-04-08
At this critical juncture for the global economy and monetary policy, the Peterson Institute for International Economics is convening central bankers and finance officials from around the world for our annual Macro Week—a series of speeches and onstage discussions moderated by PIIE President Adam S. Posen.
Thomas Jordan (Chairman, Swiss National Bank) speaks on April 19, 2022.
For more information, visit: https://www.piie.com/events/macro-week-2022
Follow the Peterson Institute for International Economics on social media!
Twitter: https://twitter.com/piie
LinkedIn: https://www.linkedin.com/company/piie
Facebook: https://www.facebook.com/PIIEonline/
Fritz Zurbrügg: Macroprudential policy beyond the pandemic: Taking stock and looking ahead
2022-03-31
In the aftermath of the Global Financial Crisis (GFC), national regulators and international institutions joined forces to build the foundations of our current macroprudential frameworks. These comprise policies aimed at containing the build-up of vulnerabilities to which the banking sector is exposed, and at strengthening banking sector resilience.
Swiss balance of payments and international investment position: 2021 and Q4 2021
2022-03-22
The current account surplus in 2021 was CHF 69 billion, up CHF 49 billion on the previous year, which was heavily influenced by the coronavirus pandemic. The increase in the current account surplus was almost entirely due to the higher receipts surplus in goods trade (up CHF 45 billion). Here a significantly higher receipts surplus was recorded in both traditional goods trade (foreign trade total 1) and merchanting than in the previous year. Furthermore, there was a reduction in the expenses surplus in non-monetary gold trading.
Swiss National Bank renews its commitment to adhere to the FX Global Code
2022-03-08
The Swiss National Bank (SNB) has renewed the Statement of Commitment to the FX Global Code based on the revised version of the Code dated July 2021. By signing this Statement, the SNB attests that its internal processes are consistent with the principles of the FX Global Code. The SNB also expects its regular counterparties to comply with the agreed rules of conduct.
BIS, SNB and SIX successfully test integration of wholesale CBDC settlement with commercial banks
2022-01-13
Project Helvetia looks toward a future with more tokenised financial assets based on distributed ledger technology coexisting with today’s systems.
Swiss National Bank expects annual profit of around CHF 26 billion for 2021
2022-01-07
According to provisional calculations, the Swiss National Bank will report a profit in the order of around CHF 26 billion for the 2021 financial year. The profit on foreign currency positions amounted to just under CHF 26 billion. A valuation loss of CHF 0.1 billion was recorded on gold holdings. The net result on Swiss franc positions amounted to over CHF 1 billion.
Swiss balance of payments and international investment position: Q3 2021
2021-12-22
In the third quarter of 2021, the current account surplus amounted to CHF 24 billion, CHF 10 billion more than in the same quarter of 2020. The increase was mainly attributable to the significantly higher receipts surplus in goods trade. This surplus was due to traditional goods trade (foreign trade total 1), non-monetary gold trading, as well as to merchanting.
Interim results of the Swiss National Bank as at 30 September 2021
2021-10-29
The Swiss National Bank reports a profit of CHF 41.4 billion for the first three quarters of 2021. The profit on foreign currency positions amounted to CHF 42.2 billion. A valuation loss of CHF 1.3 billion was recorded on gold holdings. The profit on Swiss franc positions amountedto CHF 0.8 billion.
Tags: Featured,newsletter