Swiss National Bank expects loss of CHF15bn for 2018

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Swiss National Bank expects loss of CHF15bn for 2018

According to provisional calculations, Swiss National Bank (SNB) will report a loss in the order of CHF15bn for 2018 financial year. The loss on foreign currency positions amounted to CHF16bn. A valuation loss of CHF0.3bn was recorded on gold holdings. The net result on Swiss franc positions amounted to CHF2bn. The allocation to the provisions for currency reserves will be approximately CHF5.4bn. After taking into account the distribution reserve of CHF67.3bn, the net profit will be in ...

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