Tag Archives: Swiss National Bank

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...

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...

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...

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...

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...

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...

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 countries incorporated into the index; and calculation of a chained index....

While Donald Trump has repeatedly expressed his displeasure with China for manipulating its currency, he appears to have recently figured out that over the past 2 years Beijing has been spending hundreds of billions in dollar to strengthen, not weaken, the Yuan and to halt the ~$1 trillion in capital flight from China. But while everyone knows that the biggest currency manipulation in the world, and perhaps the Milky...

  The Swiss National Bank (SNB) reports a profit of CHF 24.5 billion for the year 2016 (2015: loss of CHF 23.3 billion). The profit on foreign currency positions amounted to CHF 19.4 billion. A valuation gain of CHF 3.9 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 1.6 billion. For the financial year just ended, the SNB has set the allocation to the provisions for currency reserves at CHF 4.6 billion. After taking into account the...

(originally published on Seeking Alpha at end of October 2016) The current article will take a closer look to the incredible rise of the Swiss National Bank stock and suggest why taking a short position could be the right trade at this level. The Swiss Central Bank: Mandate and Monetary Policy According to the Swiss Federal Constitution (Art. 99) the Swiss Central Bank is an independent institution with the mandate to...