Category Archive: 1.) SNB Press Releases

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Macro Week 2022: Thomas Jordan

2022-04-08

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At this critical juncture for the global economy and monetary policy, the Peterson Institute for International Economics is convening central bankers and finance officials from around the world for our annual Macro Week—a series of speeches and onstage discussions moderated by PIIE President Adam S. Posen.

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Andréa M. Maechler / Thomas Moser: Life after Libor: A new era of reference interest rates

2022-04-01

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2022-04-01

A new era of reference interest rates began at the start of this year. Libor, which had been the key reference rate for several decades and several currencies, including the Swiss franc, ceased to exist in many currencies at the end of 2021. SARON has now fully replaced Swiss franc Libor.

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Fritz Zurbrügg: Macroprudential policy beyond the pandemic: Taking stock and looking ahead

2022-03-31

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2022-03-31

In the aftermath of the Global Financial Crisis (GFC), national regulators and international institutions joined forces to build the foundations of our current macroprudential frameworks. These comprise policies aimed at containing the build-up of vulnerabilities to which the banking sector is exposed, and at strengthening banking sector resilience.

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Swiss balance of payments and international investment position: 2021 and Q4 2021

2022-03-22

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2022-03-22

Current Account 2013-2021
The current account surplus in 2021 was CHF 69 billion, up CHF 49 billion on the previous year, which was heavily influenced by the coronavirus pandemic. The increase in the current account surplus was almost entirely due to the higher receipts surplus in goods trade (up CHF 45 billion). Here a significantly higher receipts surplus was recorded in both traditional goods trade (foreign trade total 1) and merchanting than in the previous year....

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„Jetzt hilft uns, dass Thomas Jordan ein Falke ist“

2022-03-20

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Der SNB-Chef wurde wegen seiner harten Anti-Inflations-Haltung gescholten, sagt Fabio Canetg, Journalist mit "Geldcast"-Sendung. Nun profitiere die Schweiz davon, weil hier die Preise mit plus 2 Prozent im Vergleich zum Euro-Raum und den USA moderat stiegen. Das wiederum ziehe Vermögen aus dem Ausland an, was den Franken stärke und die Inflation zusätzlich dämpfe.

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Swiss National Bank renews its commitment to adhere to the FX Global Code

2022-03-08

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2022-03-08

The Swiss National Bank (SNB) has renewed the Statement of Commitment to the FX Global Code based on the revised version of the Code dated July 2021. By signing this Statement, the SNB attests that its internal processes are consistent with the principles of the FX Global Code. The SNB also expects its regular counterparties to comply with the agreed rules of conduct.

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Swiss National Bank proposes reactivation of sectoral countercyclical capital buffer at 2.5%

2022-01-28

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2022-01-28

After consultation with the Swiss Financial Market Supervisory Authority (FINMA), the Swiss National Bank has submitted a proposal to the Federal Council requesting that the sectoral countercyclical capital buffer (CCyB) be reactivated. The buffer is to be set at 2.5% of risk-weighted exposures secured by residential property in Switzerland (cf. appendix).

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BIS, SNB and SIX successfully test integration of wholesale CBDC settlement with commercial banks

2022-01-13

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2022-01-13

Project Helvetia looks toward a future with more tokenised financial assets based on distributed ledger technology coexisting with today’s systems.

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Swiss National Bank expects annual profit of around CHF 26 billion for 2021

2022-01-07

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2022-01-07

According to provisional calculations, the Swiss National Bank will report a profit in the order of around CHF 26 billion for the 2021 financial year. The profit on foreign currency positions amounted to just under CHF 26 billion. A valuation loss of CHF 0.1 billion was recorded on gold holdings. The net result on Swiss franc positions amounted to over CHF 1 billion.

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Swiss balance of payments and international investment position: Q3 2021

2021-12-22

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2021-12-22

Current Account Q3 2019-Q3 2021
In the third quarter of 2021, the current account surplus amounted to CHF 24 billion, CHF 10 billion more than in the same quarter of 2020. The increase was mainly attributable to the significantly higher receipts surplus in goods trade. This surplus was due to traditional goods trade (foreign trade total 1), non-monetary gold trading, as well as to merchanting.

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Monetary policy assessment of 16 December 2021: Swiss National Bank maintains expansionary monetary policy

2021-12-17

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2021-12-17

The SNB is maintaining its expansionary monetary policy. It is thus ensuring price stability and supporting the Swiss economy in its recovery from the impact of the coronavirus pandemic. It is keeping the SNB policy rate and interest on sight deposits at the SNB at −0.75%, and remains willing to intervene in the foreign exchange market as necessary, in order to counter upward pressure on the Swiss franc.

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Swiss National Bank, Banque de France and BIS conclude successful cross-border wholesale CBDC experiment

2021-12-09

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2021-12-09

Central bank digital currencies (CBDCs) can be used effectively for international settlements between financial institutions, as shown in the newest wholesale CBDC experiment concluded by the Swiss National Bank (SNB), the Banque de France (BdF) and the Bank for International Settlements (BIS).

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Interim results of the Swiss National Bank as at 30 September 2021

2021-10-29

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2021-10-29

Income statement, 1 January–30 September 2021
The Swiss National Bank reports a profit of CHF 41.4 billion for the first three quarters of 2021. The profit on foreign currency positions amounted to CHF 42.2 billion. A valuation loss of CHF 1.3 billion was recorded on gold holdings. The profit on Swiss franc positions amountedto CHF 0.8 billion.

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Swiss balance of payments and international investment position: Q2 2021

2021-09-23

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2021-09-23

Current Account Q2 2019-Q2 2021
In the second quarter of 2021, the current account surplus amounted to almost CHF 11 billion, CHF 7 billion higher than in the same quarter of 2020. The rise was mainly attributable to a higher receipts surplus in goods trade.

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Swiss Financial Accounts: Household wealth in 2020 and focus article

2021-05-01

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2021-05-01

Financial and real estate wealth of households increases. The Swiss National Bank is today publishing data on Q4 2020 as part of the financial accounts. Thus, household wealth data are now also available for the full year.

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Astrid Frey appointed new SNB delegate for regional economic relations for Central Switzerland

2021-04-30

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2021-04-30

With effect from 1 May 2021, Astrid Frey will take on the function of Swiss National Bank delegate for regional economic relations for the Central Switzerland region. She succeedsGregor Bäurle, who assumed the posit ion of Head of the SNB’s Regional Economic Relations unit on 1 January 2021.

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Recall of banknotes from eighth series

2021-04-28

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2021-04-28

The Swiss National Bank is recalling its eighth-series banknotes as of 30 April 2021. From this date on, the banknotes from the eighth series lose their status as legal tender and can no longer be used for payment purposes.

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2021-04-23 – U.S. dollar liquidity-providing operations from 1 July 2021

2021-04-24

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2021-04-24

In view of the sustained improvements in U.S. dollar funding conditions and low demand at recent U.S. dollar liquidity-providing operations, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank, in consultation with the Federal Reserve, have jointly decided to discontinue offering dollar liquidity at the 84-day maturity.

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COVID-19, financial markets and digital transformation

2021-04-16

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2021-04-16

In many ways, the coronavirus (COVID-19) pandemic is unprecedented. The economic shock has been global and massive, affecting both economic supply and demand simultaneously. To mitigate the economic impact, the crisis response has had to be swift and innovative - including in Switzerland.

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Swiss balance of payments and international investment position: 2020 and Q4 2020

2021-03-29

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2021-03-29

Current Account 2012-2020
The current account surplus in 2020 was CHF 27 billion, down CHF 22 billion on the previous year. This decline was particularly due to the lower receipts surpluses in trade in goods and services. In the case of goods, the decline in receipts – with expenses remaining unchanged – caused the balance to decrease by CHF 11 billion to CHF 64 billion.

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