[Levin]

9 Jan, 2023 16:12


The Swiss National Bank posted the biggest annual loss in its 116-year history as falling stock and fixed-income markets hit the value of its share and bond portfolio, the bank announced on Monday, citing preliminary estimations.

The SNB lost around 132 billion francs (US$143 billion) in 2022, which is equal to about 18% of Switzerland’s projected gross domestic product and five times higher than its previous record loss of 23 billion francs (US$25 billion) in 2015.

......

The value of the Swiss central bank’s foreign-exchange reserves slumped about 17% last year and totaled 784 billion francs ($854.4 billion) in December down from 945 billion francs ($1 trillion) a year earlier

......

The 2022 loss means the SNB will not distribute any profits to central and regional Swiss governments. It will be only the second time since its establishment in 1906 that it skipped its usual payout. Last year, the Swiss central bank paid out six billion francs (US$6.5 billion) to the federal government and cantons, which will now be forced to review their spending plans.


https://www.rt.com/business/569612-swiss...cord-loss/

[Levin]

The 2022 loss means the SNB will not distribute any profits to central and regional Swiss governments. It will be only the second time since its establishment in 1906 that it skipped its usual payout. Last year, the Swiss central bank paid out six billion francs (US$6.5 billion) to the federal government and cantons, which will now be forced to review their spending plans.

[Odessy]

Used to be a safe place to park money with lots of privacy 

But in the recent Ukraine situation, the Russian money was frozen as part of sanctions 

So those rich and worried mega rich with secret stash will either already move or soon to move their assets out from Swiss banks 

Because suka suka can sanction anyone as long as they find you are not in their favour

[Napoleon Porlumpar]

what loss...................central banks create money out of thin air

[singlon]

This is beri serious
SNB has swap agreement with FRB
she don't function just for herself.
most likely All CBs r losing money.