The Swiss National Bank (SNB) reported a CHF 50.1 billion loss for the first half of 2015. The loss is largely driven by changes in the Swiss franc value of the assets it owns. The rise in the value of the Swiss franc following the dropping of the euro cap in January 2015 means foreign […]
The Swiss franc – to Euro parity and beyond?
With a number of ups and downs the Swiss franc has gained ground against the Euro since February and there appears to be little the Swiss National Bank (SNB) can do to manage its value. Last Wednesday in an attempt to halt the rise the SNB extended the range of institutions that must pay its […]
5 surprising facts about the Swiss National Bank
The Swiss National Bank (SNB) has an important job. Its failure to control inflation could erode the real value of our savings – 7% inflation over 10 years would halve the real value of a bank deposit. Likewise high inflation would most likely come with high mortgage interest rates – an 8% mortgage rate would […]
Big losses for the Swiss National Bank
After the recent increase in value of the Swiss franc, foreign currencies held by the Swiss National Bank (SNB) will now be worth less in Swiss franc terms. In the case of Euros around 17% less than before. This decline in value will drive a loss. It is not possible to calculate the actual figure, however […]
Tax and the Swiss National Bank in 2014
To the joy of taxpayers, every year the Swiss National Bank (SNB) pays dividends to the cantons as well as the Confederation. At least this is what happened for every year from 1907 until 2012. In 2013 the SNB made a loss of CHF 9 billion and was in no position to pay. Payments were […]
