Category Archive: 1.) SNB Press Releases

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SNB Profit in Q1 to Q3 2020: CHF 15.1 billion Despite Covid19

2020-10-31

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2020-10-31

Volatility of SNB Earnings
The Swiss National Bank reports a profit of CHF 15.1 billion for the first three quarters of 2020. We explain why these profits are possible.

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2020-10-30 – Swiss Financial Accounts: quarterly data published for first time

2020-10-30

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2020-10-30

The Swiss National Bank is expanding its data offering with respect to Switzerland’s financial accounts. It will now publish quarterly as well as annual data, and the time to publication will be shortened from ten to four months.

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Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements

2020-10-09

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2020-10-09

Seven central banks and the BIS release a report assessing the feasibility of publicly available CBDCs in helping central banks deliver their public policy objectives. Report outlines foundational principles and core features of a CBDC, but does not give an opinion on whether to issue.

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Adjustments to publication of data on money and foreign exchange market operations

2020-09-27

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2020-09-27

Additional data on money market operations and more frequent publication of volume of foreign exchange market interventions

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Monetary policy assessment of 24 September 2020

2020-09-25

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2020-09-25

SNB Switzerland Conditional Inflation Forecast, September 2020
The coronavirus pandemic continues to exert a strong influence on economic developments. The SNB is therefore maintaining its expansionary monetary policy. In so doing, it aims to cushion the negative impact of the pandemic on economic activity and inflation.

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Swiss balance of payments and international investment position: Q2 2020

2020-09-23

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2020-09-23

Current Account Switzerland Q2 2020
In the second quarter of 2020, the current account surplus amounted to CHF 10 billion; in the same quarter of 2019 it was CHF 21 billion. This decline was principally due to lower receipts from direct investment abroad. While the goods trade balance and the services trade balance changed only marginally, there was a significant decrease in receipts and expenses.

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U.S. dollar liquidity-providing operations from 1 September 2020

2020-08-21

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2020-08-21

In view of continuing improvements in U.S. dollar funding conditions and the low demand at recent 7-day maturity 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 further reduce the frequency of their 7-day operations from three times per week to once per week.

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Fed and ECB Money Printing Helps SNB Back into Positive Territory

2020-08-03

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2020-08-03

Fed and ECB money printing and massive fiscal stimulus help the SNB to come back into positive territory for the year. The renewed asset price inflation compensate for losses on the US dollar.

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Banks in Switzerland 2019

2020-06-26

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2020-06-26

Key Figures for 2019
The Swiss National Bank has today published its report Banks in Switzerland 2019 and the corresponding data for its annual banking statistics. The most important figures are summarised below.

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SNB Monetary Policy Assessment June 2020 and Videos

2020-06-19

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2020-06-19

SNB Switzerland Conditional Inflation Forecast, June 2020
The coronavirus pandemic and the measures implemented to contain it have led to a severe downturn in economic activity and a decline in inflation both in Switzerland and abroad. The SNB’s expansionary monetary policy remains necessary to ensure appropriate monetary conditions in Switzerland.

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Announcement regarding recall of banknotes from eighth series

2020-05-15

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2020-05-15

The issuance of the ninth banknote series was concluded on 12 September 2019. The Swiss National Bank intends to communicate the statutory recall of the banknotes from the eighth series two months in advance in the first half of 2021.

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SNB COVID-19 refinancing facility expanded to include cantonal loan guarantees as well as joint and several loan guarantees for startups

2020-05-12

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2020-05-12

The Swiss National Bank announced the establishment of the SNB COVID-19 refinancing facility (CRF) on 25 March 2020. This facility allows banks to obtain liquidity from the SNB by assigning credit claims from corporate loans as collateral. In so doing, the SNB enables banks to expand their lending rapidly and on a large scale.

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SNB appoints new delegate Fabian Schnell for regional economic relations for Zurich region

2020-04-28

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2020-04-28

With effect from 1 May 2020, Fabian Schnell will assume the function of Swiss National Bank (SNB) delegate for regional economic relations for the Zurich region. He succeeds Rita Kobel Rohr, who is taking on a new position at the SNB’s General Secretariat on 1 July 2020.

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SNB Interim Results: -38 Billion, An Analysis

2020-04-24

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2020-04-24

The Swiss National Bank reports a loss of CHF 38.2 billion for the first quarter of 2020. The loss on foreign currency positions amounted to CHF 41.2 billion.

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Monetary policy assessment of 19 March 2020

2020-03-20

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2020-03-20

SNB Switzerland Conditional Inflation Forecast, March 2020
Swiss National Bank maintains expansionary monetary policy, raises negative interest exemption threshold, and is examining additional steps. Coronavirus is posing exceptionally large challenges for Switzerland, both socially and economically. Uncertainty has risen considerably worldwide, and the outlook both for the global economy and for Switzerland has worsened markedly.

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112th Annual Report Swiss National Bank 2019

2020-03-19

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2020-03-19

The 2019 Annual Report of the Swiss National Bank is published on the SNB website

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SNB Profit in 2019: 48.9 billion (2018: loss of CHF 14.9 billion, 2020 Does not Look Good)

2020-03-02

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2020-03-02

Income Statement for 2019
The increasing volatility of SNB Earnings Annual results are not really definite. Given that the SNB accumulates foreign currencies with interventions, they have huge swings. But the SNB may lose 50 billion in one year and win 60 billion in the next year or vice verse. Good years of the Credit Cycle This trend was … Continue reading »

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2020-02-17 – The SNB’s Karl Brunner Distinguished Lecture Series: Carmen Reinhart to hold fifth lecture

2020-02-18

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2020-02-18

The Swiss National Bank is honouring Carmen Reinhart with this year’s Karl Brunner Distinguished Lecture Series. Carmen Reinhart is an influential economist who has made outstanding contributions to macroeconomics. She has been Professor of the International Financial System at Harvard Kennedy School since 2012, and also currently serves on the Economic Advisory Panel of the Federal Reserve Bank of New York.

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