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SNB Sight Deposits: Only Slight Increase of 370 Million Francs despite Cyprus

The SNB published the weekly monetary data for the week of the “Cyprus crisis”: SNB sight deposits are slightly up 370 million francs, mostly due to stronger franc investments in local banks. Especially Swiss clients learned once again that investments in the euro zone are risky. The amount of “other deposits” (e.g. foreign banks) retreated, because the U.S. currently seems to be an even safer place. Still movements were by far not comparable with the 50 billion francs inflows in May or June 2012. Details

 

George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
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Permanent link to this article: https://snbchf.com/2013/03/only-slight-increase-of-370-million-francs/

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