Category Archive: 1) SNB and CHF

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

2018-06-13

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2018-06-13

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?

2018-06-12

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2018-06-12

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

2018-06-11

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2018-06-11

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

2018-06-11

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2018-06-11

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

2018-06-09

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2018-06-09

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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SNB’s Thomas Jordan: “It’s much too early” to start raising interest rates

2018-06-08

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Thomas Jordan: “It’s much too early” to start raising interest rates Swiss National Bank Chairman Thomas Jordan spoke to CNNMoney Switzerland at the Swiss Economic Forum in Interlaken, saying “it’s much too early” for the central bank to start raising interest rates. “The situation is still quite fragile, also regarding the exchange rate,” remarked Jordan. …

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Vollgeld – Eine umfassende Analyse

2018-06-04

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2018-06-04

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?

2018-06-01

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2018-06-01

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

2018-05-31

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2018-05-31

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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Le bilan de la BNS, Une arme de destruction massive

2018-05-29

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2018-05-29

Chers amis lecteurs, voici le drame de la Suisse. Il s’appelle « Politique monétaire non conventionnelle« . Une arme de destruction massive que personne n’ose approcher, ni même aborder! Elle consiste en l’art de se faire un bilan sans bases réelles et avec en contreparties de l’endettement!

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Switzerland’s vote to change its monetary system – sensible or silly?

2018-05-21

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2018-05-21

Swiss franc
Sometimes Swiss voters are presented with questions that only specialists are equipped to answer. The vote on 10 June 2018 to change their monetary system appears to be one of these. On the surface it appears simple. Upon closer inspection it contains much complexity and uncertainty, compounded by a widespread misunderstanding of how the financial system works – banks do not act simply as intermediaries, lending out the deposits that savers place...

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“Vollgeld – Was spricht dagegen? (Sovereign Money—What are the Problems?),” RABE, 2018

2018-05-19

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2018-05-19

Die Vollgeld-Initiative will die Schweizer Geldpolitik komplett umkrempeln. Künftig soll nur noch die Nationalbank Geld herstellen dürfen, sowohl Banknoten und Münzen als auch das elektronische Geld. Die Schweizer Geschäftsbanken wie die UBS oder die CS, die heute 90% des elektronischen Geldes herstellen, soll das künftig verboten sein.

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Clapper – Spying On Trump “Was Good Thing”

2018-05-18

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Panel Discussion, 8th High-Level Conference on the International Monetary System, 08.05.2018

2018-05-17

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0:00:00 Challenges for Monetary Policy from Global Financial Cycles Panel participants: Tobias Adrian (IMF), Agustín Carstens (Bank for International Settlements), Philip Lane (Central Bank of Ireland), Mario Marcel (Central Bank of Chile), Jerome Powell (Federal Reserve), Hélène Rey (London Business School) This panel is part of the 8th High-Level Conference on the International Monetary System (jointly organized by the International Monetary...

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Panel Discussion, 8th High-Level Conference on the International Monetary System, 08.05.2018

2018-05-17

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0:00:00 Challenges for Monetary Policy from Global Financial Cycles Panel participants: Tobias Adrian (IMF), Agustín Carstens (Bank for International Settlements), Philip Lane (Central Bank of Ireland), Mario Marcel (Central Bank of Chile), Jerome Powell (Federal Reserve), Hélène Rey (London Business School) This panel is part of the 8th High-Level Conference on the International Monetary System …

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“Darum schadet Vollgeld der Schweiz”, Referat – Conférence – Speech – Discorso, 03.05.2018

2018-05-17

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Referat Thomas Jordan – Conférence de Thomas Jordan – Speech by Thomas Jordan – Discorso di Thomas Jordan, “Darum schadet Vollgeld der Schweiz”, 03.05.2018

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Will the SNB raise interest rates?

2018-05-16

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2018-05-16

The Swiss National Bank (SNB) could be moving forward in their process of raising interest rates according to current reports with the previous Q4 2019 hike predicted to become reality in Q3. This minor shift in expectations is positive for the Swiss Franc and gives the market some news to be targetting and assessing in deciding the value of the CHF.

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BNS, Initiative Monnaie Pleine veut lui donner les pleins pouvoirs

2018-05-09

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2018-05-09

BNS
L’initiative «Monnaie pleine», qui sera soumise au peuple le 10 juin prochain, entend radicalement transformer le système bancaire suisse. Si elle est acceptée, la BNS obtiendrait les pleins pouvoirs. Décryptage des risques et des enjeux. L’initiative «Monnaie pleine», sur laquelle le peuple sera appelé à se prononcer le 10 juin prochain, demande que seule la Banque nationale suisse (BNS) puisse émettre de la monnaie.

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La question de Monnaie pleine induit-elle le votant en erreur?

2018-05-08

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2018-05-08

Le peuple suisse doit, le 10 juin 2018, répondre à cette question: Acceptez-vous l’initiative populaire « Pour une monnaie à l’abri des crises : émission monétaire uniquement par la Banque nationale ! (Initiative Monnaie pleine). Le oui à la question sous-entend que ce concept monétaire garantit la monnaie suisse et les avoirs bancaires d’une part, et d’autre part que l’ensemble des avoirs bancaires relèvent de la banque centrale.

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Why sovereign money would hurt Switzerland?

2018-05-04

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2018-05-04

Ladies and gentlemen Today, the Swiss Institute of Banking and Finance at the University of St. Gallen celebrates its 50th anniversary. Let me extend my sincere congratulations on reaching this milestone. Our financial system has evolved steadily over the past five decades. In the early years of the institute, the world was still dominated by … Continue reading »

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