Tag Archive: SNB Gold Holdings

2013 SNB’s Valuation Gains 14 billion CHF on Stocks, but Losses of 35 bln. on Gold, FX and Bonds

The Swiss National Bank (SNB) is reporting a loss of CHF 9.1 billion for the year 2013 (2012: profit of CHF 6.0 billion). Valuation losses on gold holdings amounting to some CHF 15.2 billion contrast with a profit of CHF 3.1 billion on foreign currency positions and a net result of CHF 3.4 billion from …

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SNB Q1/2014 Results: 1.7% annualized Yield on Seigniorage, 2% annualized Loss on FX Rate Change

The main task of a central bank occupied with QEE (quantitative easing or exchange intervention) is to obtain higher gains on seigniorage than it loses with its "ever appreciating" currency. Otherwise its equity capital would be absorbed.

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15 Billion SNB Losses on Gold in 2013, But 40 Billion SNB Profit on Gold between 2000 and 2012

For anybody complaining about gold that caused the big loss of the Swiss National Bank. Since 2000, the total SNB profit was 32.1 bln. CHF, of which 24.6 billion came from gold.

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Before and After Lehman: Switzerland and the United States Compared



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Our Detailed Estimate of SNB Q2 Results: 17 Billion Francs Loss, The Reality 18 Billion

UPDATE: July 30th, 2013: Our estimate for the quarterly loss missed the reality by 1 billion francs. The quarter results: 18.3 billion francs loss. The loss for H1 was 7.3 billion CHF. July 1st 2013: We estimate that the Swiss National Bank (SNB) obtained a loss of 17.3 billion francs in the second quarter 2013. … Continue reading »

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“SNB Concerned”: Does a Yes to the Swiss Gold Referendum Imply an End of the CHF Cap?

If the upcoming referendum "Save our Swiss gold" wins, the SNB must increase gold holdings from 10% to 20% of its balance sheet. Gold purchases and/or sales of fiat money implies an end of CHF cap.

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SNB Valuation Losses in October: Around 6 Billion Francs

The Swiss National Bank (SNB) had valuation losses of around 6 billion francs in October due to the weaker EUR/CHF exchange rate and a weaker gold price.

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SNB Results Q3 2012: SNB Radically Reduces Euro Share from 60% to 48%

SNB Q3 Profits: 10 billion francs   The Swiss National Bank (SNB) radically reduced its euro share, in the third quarter from 60% to 48%, and bought US dollars and sterling instead. In the second quarter, however, it increased the euro share from 51% to 60% and concentrated on buying euros. Given that the EUR/USD was … Continue reading...

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IMF Data: SNB Forex Reserves and Gold in September 2012

This link  on the SNB website shows the data the central bank provides to the International Monetary Fund (IMF). It shows the SNB Forex and gold reserves in the last month. It is so-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 two weeks after …

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SNB results: SNB invested 77% of the huge Q2 increase in reserves into Euros. Peg at risk ?

  The Swiss National Bank (SNB) reported a profit of 6.5 billion Swiss Franc for the first half year (H1). After a loss of 1.7 bln. francs in the first quarter (Q1), it had a 8.2 billion profit for the second quarter (Q2). The Q2 SNB results of 8.2 bln. CHF were less than our … Continue reading »

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SNB Results: SNB poised for 10 billion CHF quarterly profit

  On July 31st the Swiss National Bank will publish interim results for the second quarter 2012. Already now we offer  an estimate to our readers. Our estimate does not cover the central bank’s Forex trading results, they are difficult to estimate. A central bank is not a day trader, therefore the influence should be limited. …

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