by 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. The FX Global Code sets out principles of good practice in the foreign exchange market. It was first published in 2017 and revised by the Global Foreign Exchange Committee (GFXC) between 2020 and 2021. Attachment: Statement of Commitment to the FX Global Code Statement of Commitment to the FX Global Code The Swiss National Bank (“Institution”) has reviewed the content of the FX Global Code (“Code”)
Topics:
Swiss National Bank considers the following as important: 1) SNB and CHF, 1.) SNB Press Releases, Featured, newsletter
This could be interesting, too:
Vibhu Vikramaditya writes Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression
Ryan McMaken writes Frédéric Bastiat Was a Radical Opponent of War and Militarism
Douglas French writes Millennials: In Costco We Trust
Joseph T. Salerno writes What Fed “Independence” Really Means
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.
The FX Global Code sets out principles of good practice in the foreign exchange market. It was first published in 2017 and revised by the Global Foreign Exchange Committee (GFXC) between 2020 and 2021.
Attachment: Statement of Commitment to the FX Global Code
Statement of Commitment to the FX Global Code
The Swiss National Bank (“Institution”) has reviewed the content of the FX Global Code (“Code”) and acknowledges that the Code represents a set of principles generally recognised as good practice in the wholesale foreign exchange market (“FX Market”). The Institution confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its FX Market activities (“Activities”) in a manner consistent with the principles of the Code. To this end, the Institution has taken appropriate steps, based on the size and complexity of its Activities, and the nature of its engagement in the FX Market, to align its Activities with the principles of the Code.
You Might Also Like
Swiss National Bank proposes reactivation of sectoral countercyclical capital buffer at 2.5%
2022-01-28
After consultation with the Swiss Financial Market Supervisory Authority (FINMA), the Swiss National Bank has submitted a proposal to the Federal Council requesting that the sectoral countercyclical capital buffer (CCyB) be reactivated. The buffer is to be set at 2.5% of risk-weighted exposures secured by residential property in Switzerland (cf. appendix).
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.
Monetary policy assessment of 16 December 2021: Swiss National Bank maintains expansionary monetary policy
2021-12-17
The SNB is maintaining its expansionary monetary policy. It is thus ensuring price stability and supporting the Swiss economy in its recovery from the impact of the coronavirus pandemic. It is keeping the SNB policy rate and interest on sight deposits at the SNB at −0.75%, and remains willing to intervene in the foreign exchange market as necessary, in order to counter upward pressure on the Swiss franc.
Swiss National Bank, Banque de France and BIS conclude successful cross-border wholesale CBDC experiment
2021-12-09
Central bank digital currencies (CBDCs) can be used effectively for international settlements between financial institutions, as shown in the newest wholesale CBDC experiment concluded by the Swiss National Bank (SNB), the Banque de France (BdF) and the Bank for International Settlements (BIS).
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.
Swiss balance of payments and international investment position: Q2 2021
2021-09-23
In the second quarter of 2021, the current account surplus amounted to almost CHF 11 billion, CHF 7 billion higher than in the same quarter of 2020. The rise was mainly attributable to a higher receipts surplus in goods trade.
Tags: Featured,newsletter