10-01-2023, 09:47 AM
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.
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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
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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/
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/