by The Swiss National Bank (SNB) has posted an annual loss of CHF132 billion (3 billion) for 2022, the biggest in its 115-year history. “The loss on foreign currency positions amounted to around CHF131 billion and the loss on Swiss franc positions was around CHF1 billion. A valuation gain of CHF400 million was recorded on gold holdings,” the SNB said in a statement on Monday. The 2022 loss means the SNB will not make its usual payout to the Swiss federal and cantonal governments, it said. Last year it paid out CHF6 billion. The figures released on Monday are provisional. They mark a reverse from the CHF26 billion profit in 2021. They are also much bigger than the previous record loss of CHF23 billion in 2015. The loss is unlikely to have an impact on SNB policy.
Topics:
Swissinfo considers the following as important: 1) SNB and CHF, 3) Swiss Markets and News, 3.) Swissinfo Business and Economy, Featured, Latest News, newsletter
This could be interesting, too:
Michael Njoku writes Totalitarianism Begins With A Denial of Economics
Nachrichten Ticker - www.finanzen.ch writes US-Wahl treibt Bitcoin über 90’000 US-Dollar – wie Anleger vom neuen Krypto-Hype profitieren können
Jim Fedako writes Subjectivity and Demonstrated Preference: A Possible Paradox
Connor O'Keeffe writes The Context Behind Donald Trump’s “Takeover” of the American Right
The Swiss National Bank (SNB) has posted an annual loss of CHF132 billion ($143 billion) for 2022, the biggest in its 115-year history.
“The loss on foreign currency positions amounted to around CHF131 billion and the loss on Swiss franc positions was around CHF1 billion. A valuation gain of CHF400 million was recorded on gold holdings,” the SNB said in a statement on Monday.
The 2022 loss means the SNB will not make its usual payout to the Swiss federal and cantonal governments, it said. Last year it paid out CHF6 billion.
The figures released on Monday are provisional. They mark a reverse from the CHF26 billion profit in 2021. They are also much bigger than the previous record loss of CHF23 billion in 2015.
The loss is unlikely to have an impact on SNB policy. It hiked interest rates three times in 2022 as Chairman Thomas Jordan moved to stem high Swiss inflation, analysts said.
In mid-December the Swiss central bank increased its policy rate and the rate it charges on sight deposits to 1.0% from the 0.5% level set in September. The move follows a 0.5% interest rate hike by the United States Federal Reserve.
The SNB will release detailed annual figures on March 6.
Tags: Featured,Latest news,newsletter