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Tag Archives: Swiss National Bank

A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough

 Two weeks ago Bank of America caused a stir when it calculated that central banks (mostly the ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, “the largest CB buying on record.”  Aggregate Balance Sheet Of Large Central Banks, 2000 - 2017 - Click to enlarge BofA’s Michael Hartnett noted that supersized central bank...

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“Mystery” Central Bank Buyer Revealed, Goes On Q1 Buying Spree

In the first few months of the year, a trading desk rumor emerged that even as institutional traders dumped stocks and retail investors piled into ETFs, a “mystery” central bank was quietly bidding up risk assets by aggressively buying stocks. And no, it was not the BOJ: while the Japanese Central Bank’s interventions in the stock market are familiar to all by now, and as we reported last night on sessions when the “the...

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Digital Swiss Francs

The Swiss National Bank held its annual general meeting of shareholders (web TV). In response to one of the questions posed by shareholders Thomas Jordan suggested (2:58–2:59) that possibly a digital Swiss Franc might be introduced sometime in the future. Tags: Digital currency,Electronic money,Featured,M0 base...

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Digital Swiss Francs

The Swiss National Bank held its annual general meeting of shareholders (web TV). In response to one of the questions posed by shareholders Thomas Jordan suggested (2:58–2:59) that possibly a digital Swiss Franc might be introduced sometime in the future.

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Sweden’s Gold Reserves: 10,000 gold bars (pet rocks) shrouded in Official Secrecy

In February 2017 while preparing for a presentation in Gothenburg about central bank gold, I emailed Sweden’s central bank, the Riksbank, enquiring whether the Riksbank physically audits Sweden’s gold and whether it would provide me with a gold bar weight list of Sweden’s gold reserves (gold bar holdings). The Swedish official gold reserves are significant and amount to 125.7 tonnes, making the Swedish nation the...

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Interim results of the Swiss National Bank as at 31 March 2017

From the official news release Interim results of the Swiss National Bank as at 31 March 2017 The Swiss National Bank (SNB) reports a profit of CHF 7.9 billion for the first quarter of 2017. A valuation gain of CHF 2.2 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF 5.3 billion. The SNB’s financial result depends largely on developments in the gold, foreign exchange...

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SNB posts 7.9 billion CHF Profit in Q1

From the official news release Interim results of the Swiss National Bank as at 31 March 2017 The Swiss National Bank (SNB) reports a profit of CHF 7.9 billion for the first quarter of 2017. A valuation gain of CHF 2.2 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF 5.3 billion. The SNB’s financial result depends largely on developments in the gold, foreign exchange...

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Where There’s Smoke…

Central banks around the world have colluded, if not conspired, to elevate and prop up financial asset prices.  Here we’ll present the data and evidence that they’ve not only done so, but gone too far. When we discuss elevated financial asset prices we really are talking about everything; we’re talking not just about the sky-high prices of stocks and bonds, but also of the trillions of dollars’ worth of derivatives that...

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Switzerland at IMF and World Bank 2017 Spring Meetings in Washington, D.C.

Bern, 20.04.2017 – Federal Councillor Ueli Maurer as Head of the Swiss delegation, Federal Councillor Johann N. Schneider-Ammann and Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, will take part in the joint Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington, D.C., from 21 to 23 April 2017. Prior to these meetings, Federal Councillor Ueli Maurer...

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Swiss Franc Exchange Rate Index

The Swiss National Bank has updated its exchange rate indices. In an SNB Economic Studies paper, Robert Müller describes how. The upshot is that the SNB considers the Swiss Franc slightly less overvalued than before. From the abstract: The key aspects of the revision are: the application of the weighting method used by the IMF, which takes into account so-called third-market effects; continuous updating of the...

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