SNB

SNB: Q1 loss of CHF 6.8 bn

The Swiss National Bank reported a first-quarter loss of 6.8 billion Swiss francs ($6.92 billion) on Thursday, highlighting the volatility its massive balance sheet creates for the central bank’s earnings. […]

Continue reading

Swiss Central Banker is convinced Bitcoin more investment than a currency

Thomas Jordan, the chairman of the Swiss National Bank (SNB) spoke out on cryptocurrencies on Thursday. Speaking at an event in Basel, Jordan, who also chairs the international Central Bank Counterfeit Deterrence Group, said that central banks are eyeing the issues of cryptocurrencies "very intensively," adding, "I would look at them more as an investment than a currency."

According to Reuters report, Jordan noted: "It is important to say it is not question of technology, but a question of who has access to central bank money and in what form. There are up to now many unsolved questions."

Continue reading

SNB, Vix and new patterns

This Monday I was at Lantern Fund Forum of Lugano, and the main speaker was John Mauldin. One of his main reflections was on how it is possible to manage money in a world where central banks and governments buy assets massively and indiscriminately, without assessing the value of what they buy.

Continue reading

SNB on the way to confirm its monetary policy

Recent moves by the U.S. Federal Reserve to tighten its monetary policy is helping the Swiss National Bank in its campaign against the “highly valued” Swiss franc, SNB Governor Andrea Maechler said on Thursday.

Interest rate rises announced by the Fed “mean the interest rate differentials between Switzerland and other countries may widen further in the future,” Maechler said. This would make the Swiss franc less attractive to investors, reducing the value of the currency, whose strength has hampered Switzerland’s export-reliant economy.

Continue reading

SNB forex reserves hit another record in October

In the morning SNB released the Swiss FX reserves for October. The Swiss National Bank’s foreign-currency reserves jumped by 17 billion Swiss francs ($17.04 billion) in the month, putting the central bank on track for another banner quarter after earning a record-high profit of 32.5 billion francs between July and September.

The data increased strongly to $741.5 billion from $724.4billion. Tuesday’s

Continue reading