Category Archive: 1) SNB and CHF

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SNB Q1/2014 Results: 1.7% annualized Yield on Seigniorage, 2% annualized Loss on FX Rate Change

results estimate snb 2013 fx gov. bonds corp. bonds gold stocks interest incime stab. fund total

The main task of a central bank occupied with QEE (quantitative easing or exchange intervention) is to obtain higher gains on seigniorage than it loses with its "ever appreciating" currency. Otherwise its equity capital would be absorbed.

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15 Billion SNB Losses on Gold in 2013, But 40 Billion SNB Profit on Gold between 2000 and 2012

For anybody complaining about gold that caused the big loss of the Swiss National Bank. Since 2000, the total SNB profit was 32.1 bln. CHF, of which 24.6 billion came from gold.

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George Dorgan bei den Jungfreisinnigen Zürich, Teil 1: CHF und Schweizer Wirtschaft

2014-02-23

by George Dorgan

2014-02-23

Am 7. Februar hat George Dorgan eine Präsentation bei den Jungfreisinnigen Zürich gehalten. Themen waren die weitere Entwicklung des Frankens, die Schweizer Wirtschaft, die SNB und die Auswirkungen der Gold- und Masseneinwanderungsinitiativen.

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George Dorgan at Swiss Young Liberals: Slides

2014-02-05

by George Dorgan

2014-02-05

On Friday the 7th of February at 19.00, George Dorgan is presenting his outlook on the Swiss Franc. He explains if and when the Swiss National Bank is able to generate profits again. Moreover he discusses the influence of the two referendums “Save Our Swiss Gold” and “Against Mass Immigration” on the Swiss Franc and …

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Basel III, Swiss Finish and the regulatory minimum capital requirements

basel III and swiss finish common equity tier 1 cet

SNB Increases Weight of Countercyclical Capital Buffer for Banks

2014-01-23

by George Dorgan

2014-01-23

basel 3 capital requirements, common equity tier, hybrid, capital conservation buffer additional dier, countercyclical buffer

The SNB requires banks to raise the weight of the counter-cyclical capital buffers” (CCB) by holding extra capital worth 1 per cent of the risk-weighted assets in their mortgage portfolios.

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SNB Balance Sheet Expansion

Since 2008 the balance sheet of the Swiss National Bank is 280% higher, this is the equivalent of 60% of Swiss GDP. So did most other central banks, too. But there is one big difference: The risk for the SNB is far higher, the SNB nearly exclusively possesses assets denominated in volatile foreign currency.

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History of SNB Sight Deposits, 2013

Blog entries on the SNB that got last updated in 2014

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2013 Posts on CHF

Blog pages last updated in the year 2014 on the Swiss Franc.

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Thomas Jordan, Direktoriumspräsident SNB

2013-12-12

by Thomas Jordan

SNB-Präsident Thomas Jordan über den Franken und Aktienmärkte.

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Swiss National Bank Monetary Policy Mandate – 2007 version vs. today

The mandate of the Swiss National Bank is concentrated on price stability, i.e. less than 2% inflation and to avoid deflation.

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Written in Dec 2013: FX trade of the Future is EUR/CHF Short, Not EUR/CHF Long

ECB rate cut creates complex situation for SNB

2013-11-08

by George Dorgan

2013-11-08

Says Thomas Jordan. Need to wait to assess impact of ECB rate cut Wasn’t totally surprised by the cut Interest rates will remain low in Switzerland Low rates may lead to property bubble risk which SNB will respond to if necessary SNB monitoring property market which is already in difficult situation I did wonder about the lack of movement in EUR/CHF yesterday considering that nearly every other euro pair took a hit. It’s either become the...

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Weekly Newspaper on Swiss National Bank and Swiss Franc

2013-11-04

by George Dorgan

2013-11-04

Feel free to click into the other categories “politics”, “business”, #chf, #snb in order to see more articles.

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Fast CHF and Gold Price Movements

2013-11-01

by George Dorgan

2013-11-01

Our CHF and Gold News Bar on our home page explains daily CHF and gold price movements based on the most important fundamental indicators in a few sentences. Keep in mind that the only Swiss fundamental data that is able to move the CHF must come from the SNB and from Swiss inflation data – … Continue reading »

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In Which Positions Does the SNB Win and Where Does it Lose Money: Details on the Q3 Results

2013-10-30

by George Dorgan

2013-10-30

UPDATE October 31, The official press release focused on the results for Q1 to Q3. The loss was 6.4 billion after a 7.3 bln. CHF loss in the first two quarters. Over all three quarters especially gold and the yen weakened the central bank’s positions. For the third quarter, it means that income was positive … Continue reading »

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Weekly Newspaper on Swiss National Bank, Edition October 28

2013-10-28

by George Dorgan

2013-10-28

The SNB recently published the latest real effective exchange rate (REER). According to that the franc was only 7% overvalued against the base year 1999. Credit Suisse (CS) has taken some more factors than the REER under consideration: for them the fair value of the EUR/CHF is now 1.22, while the dollar was still undervalued. …

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