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Swiss National Bank

The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

Articles by Swiss National Bank

Swiss Financial Accounts: Household wealth in 2020 and focus article

12 days ago

Financial and real estate wealth of households increases
The Swiss National Bank is today publishing data on Q4 2020 as part of the financial accounts. Thus, household wealth data are now also available for the full year.
Overall, financial assets held by households increased by CHF 108 billion to CHF 2,851 billion (up 3.9%) in 2020. High capital losses in Q1 2020 due to falling stock market prices were followed by a recovery during the remainder of the year. Both transactions and capital gains contributed to this recovery.

The market value of real estate owned by households grew by CHF 94 billion to CHF 2,212 billion (up 4.4%) in 2020, principally due to rising real estate prices. Liabilities, which consist mainly of mortgages, rose by CHF 25 billion to CHF

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Astrid Frey appointed new SNB delegate for regional economic relations for Central Switzerland

13 days ago

With effect from 1 May 2021, Astrid Frey will take on the function of Swiss National Bank delegate for regional economic relations for the Central Switzerland region. She succeedsGregor Bäurle, who assumed the posit ion of Head of the SNB’s Regional Economic Relations unit on 1 January 2021.
After concluding her studies at the University of St. Gallen, Astrid Frei worked as an economist at Bank Sarasin & Cie, after which she joined the KOF Swiss Economic Institute at ETH as a research assistant. From May 2007, she was emplo yed at Swiss Re, most recently as Chief Economist Europe.
The SNB’s eight delegates for regional economic relations represent the SNB in the various regions of Switzerland. They maintain regular contact with companies from different

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Recall of banknotes from eighth series

15 days ago

The Swiss National Bank is recalling its eighth-series banknotes as of 30 April 2021.
From this date on, the banknotes from the eighth series lose their status as legal tender and can no longer be used for payment purposes.
This does not apply to the public cash offices of the Confederation (SBB/CFF, Swiss Post), which will continue to accept eighth-series banknotes until 30 October 2021.
Due to the revocation of the statutory exchange period on 1 January 2020, the banknotes can, for an unlimited period of time, be exchanged at the SNB counters in Berne and Zurich or at an SNB agency.
Further information is available on the SNB website.

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Astrid Frey

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2021-04-23 – U.S. dollar liquidity-providing operations from 1 July 2021

19 days ago

In view of the sustained improvements in U.S. dollar funding conditions and low demand at recent U.S. dollar liquidity-providing operations, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank, in consultation with the Federal Reserve, have jointly decided to discontinue offering dollar liquidity at the 84-day maturity. This operational change will be effective as of 1 July 2021. The auction schedule until 30 June 2021, as already published, remains unchanged. From 1 July 2021 onwards, these central banks will continue to hold weekly operations with a 7-day maturity.
These central banks stand ready to re-adjust the provision of U.S. dollar liquidity, including restarting the 84-day operation, as warranted by market

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Swiss balance of payments and international investment position: 2020 and Q4 2020

March 29, 2021

Key developments in 2020
The current account surplus in 2020 was CHF 27 billion, down CHF 22 billion on the previous year. This decline was particularly due to the lower receipts surpluses in trade in goods and services. In the case of goods, the decline in receipts – with expenses remaining unchanged – caused the balance to decrease by CHF 11 billion to CHF 64 billion. While both receipts and expenses were substantially lower in the cyclically sensitive goods trade (special trade, total 1), this decline was offset on the expenses side by higher expenses for gold imports. In trade in services, receipts decreased more strongly than expenses, causing the balance to decline by CHF 8 billion to CHF 1 billion.

Current Account 2012-2020 – Click to enlarge
In the

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