Category Archive: 1) SNB and CHF

Swiss National Bank releases new 200-franc note

Fourth banknote in latest series showcases Switzerland’s scientific expertise. The Swiss National Bank (SNB) will begin issuing the new 200-franc note on 22 August 2018. Following the 50, 20 and 10-franc notes, this is the fourth of six denominations in the new banknote series to be released. The current eighth-series banknotes will remain legal tender until further notice.

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The Swiss National Bank Now Owns $87.5 Billion In US Stocks After Q2 Tech Buying Spree

In the second quarter of 2018, one in which the global economy was shaken by the rapid escalation of Trump's trade war, and in which central banks were one after another hinting at their own QE tapering and rate hiking intentions to follow in the Fed's footsteps, what was really taking place was another central bank buying spree meant to boost confidence that things are now back to normal, using "money" that was freshly printed out of thin air, and...

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SNB reports a profit of CHF 5.1 billion for the first half of 2018

The Swiss National Bank (SNB) reports a profit of CHF 5.1 billion for the first half of 2018. A valuation loss of CHF 0.9 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF 5.2 billion. The profit on Swiss franc positions was CHF 1.0 billion.

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Swiss franc’s defensive features likely to come back into fashion

Despite heightened trade tensions, the Swiss franc has been relatively weak against the US dollar of late. The defensive features of the franc seem to be outweighed by an unsupportive interest rate differential. But the continuing threat of escalation in trade disputes and extreme short speculative positioning on the franc mean the latter has upside potential.

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Federal Council appoints Martin Schlegel as new Alternate Member of the SNB Governing Board

At its meeting of 4 July 2018, the Federal Council appointed Martin Schlegel as the new Alternate Member of the Governing Board of the Swiss National Bank (SNB), following the proposal of the SNB’s Bank Council. He will take up the position of Deputy Head of Department I as of 1 September.

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Ueli Maurer hat recht: Der Erste, der einsieht, dass die SNB sich hoffnungslos verrannt hat

„An der Grenze des Erträglichen“ – so beurteilt Bundesrat und Finanzminister Ueli Maurer die Bilanz der Schweizerischen Nationalbank (SNB). Als ehemaliger Präsident des Zürcher Bauernverbandes ist Maurer zu einer Milchbüchlein-Rechnung fähig. Als Inhaber des eidgenössischen Buchhalter-Diplomes kann er auch eine Bilanz beurteilen.

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Banks in Switzerland 2017, Results from the Swiss National Bank’s data collection

Summary of the 2017 banking year. Of the 253 banks in Switzerland, 229 recorded a profit in 2017, posting a total profit of CHF 10.3 billion. The remaining 24 institutions recorded an aggregate loss of CHF 0.5 billion. The result of the period for all banks was CHF 9.8 billion. The aggregate balance sheet total rose by 4.8% to CHF 3,249.4 billion.

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Buying more time

At its quarterly monetary policy assessment last week, the Swiss National Bank (SNB) kept unchanged the target range for the three-month Libor at between -1.25% and -0.25% and the interest rate on sight deposits at a record low of -0.75%. The SNB reiterated its willingness to intervene in the foreign exchange market if needed.

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Swiss residential property risks growing in buy to let, according to Swiss National Bank

On 21 June 2018, the Swiss National Bank (SNB) announced its decision on interest rates, which it left unchanged. Switzerland’s economy has been sailing into the headwinds of a strong currency since the SNB scrapped its exchange rate cap in January 2015 and the Swiss franc briefly went beyond parity with the euro.

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Andréa M. Maechler: Introductory remarks, news conference

I will begin my remarks with an overview of the situation on the financial markets, before giving an update on the status of the reforms regarding reference interest rates. And in closing I would like to say a few words about our branch office in Singapore, which is celebrating its fifth anniversary. Situation on the financial markets Let me start with the developments on the financial markets.

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Introductory remarks by Fritz Zurbrügg

In my remarks today, I will present the key findings from this year’s Financial Stability Report, published by the Swiss National Bank this morning. In the first part of my speech, I will talk about the big banks, before going on, in the second part, to outline our current assessment of the situation at domestically focused banks.

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Thomas Jordan: Introductory remarks, news conference

It is a pleasure for me to welcome you to the Swiss National Bank’s news conference. I will begin by explaining our monetary policy decision and our assessment of the economic situation. I would also like to briefly touch on the rejection of the sovereign money initiative by the people and the cantons as well as a publication marking the tenth anniversary of the SNB’s educational programme, Iconomix.

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Swiss National Bank commits to FX Global Code and supports establishment of foreign exchange committee

The Swiss National Bank (SNB) has signed a Statement of Commitment to the FX Global Code (“Code”), thereby demonstrating that its internal processes are consistent with the principles of the Code. It also expects its regular counterparties to adhere to the Code and comply with the agreed rules of conduct.

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Sovereign Money Referendum: A Swiss Awakening to Fractional-Reserve Banking?

On Sunday 10 June 2018, Switzerland’s electorate voted on a referendum calling for the country’s commercial banks to be banned from creating money. In a country world-famous for its banking industry, this was quite an interesting turn of events. Known as the Sovereign Money Initiative or ‘Vollgeld’, the referendum was brought to the Swiss electorate in the form of a ‘Popular Initiative‘.

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SNB Statement on the outcome of the popular vote of 10 June 2018

The Swiss National Bank (SNB) has acknowledged the outcome of the popular vote on the sovereign money initiative. The SNB has a constitutional and statutory mandate to pursue a monetary policy serving the interests of the country as a whole. It is charged with ensuring price stability while taking due account of economic developments.

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Nach Vollgeld-Schlacht: Wir Schweizer dürfen nie mehr zum Spielball ausländischer Ideologen werden

Wer sich intensiv mit der fachlichen Materie „Vollgeld-Initiative“ auseinandergesetzt hat, kann aufatmen. Wäre diese Initiative angenommen worden, hätte deren Umsetzung unser Land in ein wirtschaftliches und politisches Chaos gestürzt.

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‘Much too early’ to lift interest rates, says SNB chairman

The continued volatility surrounding the Italian elections and the threat of global trade wars make it far too early for the Swiss National Bank (SNB) to consider raising rock bottom interest rates, says chairman Thomas Jordan.

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Vollgeld – Eine umfassende Analyse

Am 10. Juni stimmen wir in der Schweiz auf nationaler Ebene über die Vollgeld-Initiative ab. Diese widmet sich einer der wohl komplexesten und zugleich wesentlichsten Thematiken unserer Gesellschaft: unserem Finanzsystem. Die Idee des Vollgeldes geht weit über die Initiative in der Schweiz hinaus und ist heute in erster Linie Bestandteil der «Modern Monetary Theory». Ihren Ursprung lässt sich in das 19. Jahrhundert zurückverfolgen. Auf der Webseite...

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Bricht die Italien-Krise der SNB das Genick?

Am 7. April 2017, dem Tag der Generalversammlung der Schweizerischen Nationalbank, war die Welt der Notenbank noch in Ordnung. Der Euro notierte bei 1.20 zum Franken, und SNB-Chef Thomas Jordan konnte einen Jahresgewinn für das vergangene Geschäftsjahr von 54 Milliarden Franken vorweisen.

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Results of the 2017 survey on payment methods

In the autumn of 2017, the Swiss National Bank (SNB) conducted a survey on payment methods for the first time. The aim of the survey is to obtain representative information on payment behaviour and the use of cash by house holds in Switzerland, and to ascertain the underlying motives for this behaviour.

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