Tag Archive: SNB balance sheet

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

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.

Read More »

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

2020-10-31

by George Dorgan

2020-10-31

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.

Read More »

Fed and ECB Money Printing Helps SNB Back into Positive Territory

2020-08-03

by George Dorgan

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.

Read More »

SNB Interim Results: -38 Billion, An Analysis

2020-04-24

by George Dorgan

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.

Read More »

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

2020-03-02

by George Dorgan

2020-03-02

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 »

Read More »

The Swiss National Bank reports a profit of CHF 51.5 billion for the first three quarters of 2019

2019-10-31

by SNB

2019-10-31

Income statement, 1 January–30 September 2019

The Swiss National Bank reports a profit of CHF 51.5 billion for the first three quarters of 2019. The profit on foreign currency positions amounted to CHF 42.7 billion. A valuation gain of CHF 7.3 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 1.7 billion.

Read More »

SNB reports a profit of CHF 38.5 billion for the first half of 2019.

2019-07-31

by George Dorgan

2019-07-31

The Swiss National Bank reports a profit of CHF 38.5 billion for the first half of 2019. The profit on foreign currency positions amounted to CHF 33.8 billion. A valuation gain of CHF 3.8 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 1.1 billion. The SNB’s financial result depends largely on developments in the gold, foreign exchange and capital markets.

Read More »

SNB Results: Big Win After Big Loss in Q4 2018

2019-04-25

by George Dorgan

2019-04-25

Income Statement, 1 January - 31 March 2019

The Swiss National Bank reports a profit of CHF 30.7 billion for the first quarter of 2019. The profit on foreign currency positions amounted to CHF 29.3 billion. A valuation gain of CHF 0.9 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 0.6 billion.

Read More »

SNB loses 15 billion in 2018

2019-03-05

by George Dorgan

2019-03-05

The SNB earned 2 billion on negative interest rates (Swiss franc positions below), but lost nearly 17 billion CHF on FX investments, of which 5 bn on bonds and 12 bn on stocks. Gold was nearly unchanged.

Read More »

Provisional Results 2018: Will the SNB ever make profits again?

2019-01-10

by George Dorgan

2019-01-10

15 Billion Francs Losses in 2018. Given that the good years have finished: Will the SNB will ever make profits again? And compensate for the ever rising Swiss franc?

Read More »

SNB reports a loss of CHF 7.8 billion for third quarter of 2018

2018-10-31

by George Dorgan

2018-10-31

The Swiss National Bank (SNB) reports a loss of CHF 7.8 billion for the first three quarters of 2018. A valuation loss of CHF 3.7 billion was recorded on gold holdings. The loss on foreign currency positions amounted to CHF 5.3 billion. The profit on Swiss franc positions was CHF 1.5 billion.

Read More »

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

2018-07-31

by George Dorgan

2018-07-31

Income statement, 1 January–30 June 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.

Read More »

SNB loses 6.8 billion in Q1/2018

2018-04-27

by George Dorgan

2018-04-27

The Swiss National Bank (SNB) reports a loss of CHF 6.8 billion for the first quarter of 2018. A valuation loss of CHF 0.2 billion was recorded on gold holdings. The SNB’s financial result depends largely on developments in the gold, foreign exchange and capital markets. Strong fluctuations are therefore to be expected, and only provisional conclusions are possible as regards the annual result.

Read More »

SNB reports a profit of CHF 54.4 billion for 2017

2018-03-06

by George Dorgan

2018-03-06

The Swiss National Bank (SNB) reports a profit of CHF 54.4 billion for the year 2017 (2016: CHF 24.5 billion). The profit on foreign currency positions amounted to CHF 49.7 billion. A valuation gain of CHF 3.1 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 2.0 billion.

Read More »

The good years have started, increasing SNB Profits

2017-10-31

by George Dorgan

2017-10-31

Income statement, 1 January–30 September 2017

The Swiss National Bank (SNB) reports a profit of CHF 33.7 billion for the first three quarters of 2017. But in 2017, the picture is changed. Assuming a "biblical" cycle of seven good years and seven bad years, the SNB could now increase profits every year - thanks to a weaker franc and the seven good years.

Read More »

SNB Balance Sheet, Markets and Economy: As Good As It Gets?

2017-08-10

by Joseph Y. Calhoun

2017-08-10

Late 2014/early 2015 will perhaps be the closest to a real recovery from the Great “Recession” we shall see in this cycle. Q1 2015 marked the peak year over year growth rate of GDP in this recovery at 3.76%. That rate compares quite unfavorably with even the feeble post dot com crash recovery high of 4.41% in Q1 2004.

Read More »

SNB reports a profit of CHF 1.2 billion for the first half of 2017

2017-07-31

by George Dorgan

2017-07-31

Income statement, 1 January–30 June 2017

The Swiss National Bank (SNB) reports a profit of CHF 1.2 billion for the first half of 2017. A valuation gain of CHF 0.3 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF 0.1 billion and the profit on Swiss franc positions stood at CHF 0.9 billion. The SNB’s financial result depends largely on developments in the gold, foreign exchange and capital markets.

Read More »

SNB posts 7.9 billion CHF Profit in Q1

2017-04-27

by George Dorgan

2017-04-27

SNB Results in the first 1 Quarters 2017: +2.2 billion CHF

The SNB reports a profit of 7.9 bn CHF, of which 2.2 bn come from the gold holdings. Given that the bank has introduced a "minimum euro rate" around 1.06-1.07, this is not very difficult. It comes at the price of continuing interventions.

Read More »

Where There’s Smoke…

2017-04-25

by Tyler Durden

2017-04-25

Evolution of Atlanta Fed GDP, December 2016 - April 2017

Central banks around the world have colluded, if not conspired, to elevate and prop up financial asset prices. Here we'll present the data and evidence that they've not only done so, but gone too far. When we discuss elevated financial asset prices we really are talking about everything; we're talking not just about the sky-high prices of stocks and bonds, but also of the trillions of dollars’ worth of derivatives that are linked to them, as well...

Read More »

Swiss National Bank Results 2016 and Comments

2017-03-06

by George Dorgan

2017-03-06

The Swiss National Bank (SNB) reports a profit of CHF 24.5 billion for the year 2016 (2015: loss of CHF 23.3 billion). The profit on foreign currency positions amounted to CHF 19.4 billion. A valuation gain of CHF 3.9 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 1.6 billion.

Read More »