Swiss National Bank expects loss of CHF15bn for 2018

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 ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?