SNB Posts $88 Billion Profit, Will Resume Payouts to State
4 days, 6 hours ago

SNB Posts $88 Billion Profit, Will Resume Payouts to State

Live Mint  

-- The Swiss National Bank anticipates a profit of about 80 billion francs for 2024, a result that will allow the institution to resume payouts to state coffers. Annual income from the central bank’s pile of foreign exchange reserves, accrued as a result of its years of purchases to weaken the franc, totaled around 67 billion francs, it said Thursday. The resumption of payments might help quell domestic grumbling about the SNB at a time when the return of Donald Trump to the White House risks renewing international scrutiny on its foreign-exchange policy. The franc typically attracts investors at times of uncertainty, and when Trump was last in power, Switzerland was classified as a currency manipulator thanks to the SNB’s FX actions.

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SNB Will Resume Payouts to State Coffers After Record Profit
4 days, 6 hours ago

SNB Will Resume Payouts to State Coffers After Record Profit

Live Mint  

-- The Swiss National Bank anticipates a profit of about 80 billion francs for 2024, a record result that will allow the institution to resume payouts to state coffers. Annual income from the central bank’s pile of foreign exchange reserves, accrued as a result of its years of purchases to weaken the franc, totaled around 67 billion francs, it said …

SNB Stayed Out of FX Markets Despite Third-Quarter Franc Rally
2 weeks, 1 day ago

SNB Stayed Out of FX Markets Despite Third-Quarter Franc Rally

Live Mint  

-- The Swiss National Bank continued to refrain from significantly influencing the franc in the third quarter, even as the currency saw a rally triggered by geopolitical turmoil. Switzerland’s central bank bought foreign exchange worth 728 million francs from July to September after even smaller purchases in the previous two quarters, according to data on Tuesday. This suggests that even …

SNB Is Edging Toward Zero Rate in Tussle With Franc Speculators
1 month ago

SNB Is Edging Toward Zero Rate in Tussle With Franc Speculators

Live Mint  

-- Switzerland’s two-year stint of positive interest rates is about to inch closer to a potential end with the central bank’s likely move to cut borrowing costs this week. Either way, the decision will use up precious ammunition for a central bank whose rate is already one of the world’s lowest, showcasing the quandary for Swiss policymakers trying to prevent …

Indians' money in Swiss banks falls, hits second-lowest level in two decades
5 years, 6 months ago

Indians' money in Swiss banks falls, hits second-lowest level in two decades

India TV News  

Money parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell by nearly 6 per cent in 2018 to 955 million Swiss francs to hit its second-lowest level in over two decades, Swiss National Bank data showed Thursday. According to the SNB, its data for 'total liabilities' of Swiss banks towards Indian clients takes into account …

Indians' money in Swiss banks falls by nearly 6%, hits second-lowest level in over two decades
5 years, 6 months ago

Indians' money in Swiss banks falls by nearly 6%, hits second-lowest level in over two decades

Firstpost  

Aggregate funds of all foreign clients of Swiss banks also fell by over 4 percent to CHF 1.4 trillion in 2018 Zurich/New Delhi: Money parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell by nearly 6 percent in 2018 to 955 million Swiss francs to hit its second-lowest level in over two decades, Swiss National …

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