by George Dorgan
My articles About meMy books
Follow on:TwitterFacebook
Seeking AlphaCFA SocietyLinkedINEconomicBlogs
This link on the SNB website shows the data the central bank provides to the International Monetary Fund (IMF). It indicates the SNB Forex and gold reserves in the last month. The data delivery is called “IMF Special Data Dissemination Standard (SNB Data)”
It is released together with the international investment position, some monetary aggregates and the balance of payments. It is transmitted to the International Monetary Fund and disclosed to the public. Again there is an archive. So one can compare the change from month to month.
Data for monetary aggregates
Inside this data release there are for example M0 and M1.
M0 represents debt for the central that allows to finance currency interventiosn.
Data for currency reserves
You Might Also Like
Central Banks Zoom In on CBDC
According to a BIS press release, several leading central banks collaborate with the BIS on matters relating to the introduction of CBDC: The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential cases for central bank digital currency (CBDC) in their home jurisdictions.
Sollen Zentralbanken Klimapolitik betreiben?
Warum die Forderung nach einer klimafreundlichen Anlagepolitik schwierig bis gar nicht umzusetzen ist. Aufgrund ihrer extrem expansiven Geldpolitik sind sowohl die EZB als auch andere wichtige europäische Zentralbanken wie die SNB zu Grossinvestoren auf Anleihenmärkten und teilweise auch an Börsen geworden.
Is the SNB In Control of the Amount of Sight Deposits?
The current monetary environment in Switzerland is as far from ordinary as can be imagined: negative interest rates (from -0.75% in the short term to -0.25% for 50Y govt bonds) and oceans of liquidity (M0 has grown to 50% of M3 from pre-crises levels of around 8%).
Ein rationaler Erklärungsansatz für negative Zinsen
In einem Beitrag auf LinkedIn am 29. Dezember 2019 wirft Prof. Erwin Heri von der Universität Basel in die Runde, dass negative (Real-)Zinsen möglicherweise vernünftig sind. Sie wären das natürliche Ergebnis der Präferenzen der Wirtschaftssubjekte – und nicht primär das Ergebnis einer Manipulation von Zentralbanken.
Swiss National Bank to distribute 4 billion francs of profit
In 2019, the Swiss National Bank (SNB) made a profit of around CHF 49 billion. These profits came mainly from the rising value of the assets on the bank’s balance sheet. In 2019, the value of its holdings of foreign currency and gold rose substantially. When combined with interest, dividend income and gains on shares total profits for the year were CHF 49 billion.
SNB Interim Results: -38 Billion, An Analysis
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.
“Wenn die Notenbank den Staat finanziert (When the Central Bank Finances the State),” FAS, 2020
Monetary deficit financing is the norm—after all, central banks distribute their profits. Monetary financing occurs in the context of regular open market operations and QE and, hyper charged, with helicopter drops. The question is not whether monetary policy should finance the government, but why it does so, and to what extent. Fiscal and monetary policy are inherently connected; what constitutes monetary policy is defined by objectives.
Willkommen in einer Zukunft ohne Zins
Die SNB, die EZB und andere Zentralbanken erwarten auch langfristig keine Zinswende – und machen Nullzinsen zur Regel. Eine Übersicht der Prognosen. Diese Woche ist die Welt einer Zukunft ohne positive Zinssätze ein Stückchen näher gerückt. Schwedens Notenbank erneuerte ihren Zinspfad.
