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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

Romeo Lacher and Christoph Mäder nominated for election to the SNB Bank Council

22 days ago

Romeo Lacher ist Verwaltungsratspräsident von Julius Bär. Bild: ZVG
At its meeting today, the Bank Council of the Swiss National Bank decided to propose to the General Meeting of Shareholders of 30 April 2021 that Romeo Lacher and Christoph Mäder be elected to the SNB Bank Council for the remainder of the 2020–2024 term of office. Romeo Lacher is Chairman of the Board of Directors of Julius Baer Group Ltd. and Bank Julius Baer & Co. Ltd. Christoph Mäder is President of economiesuisse. The election of these new members is necessary to replace Olivier Steimer and Heinz Karrer, who will both be leaving the Bank Council at the end of April 2021. Mr Steimer, former Chairman of the Board of Directors of Banque Cantonale Vaudoise, will be stepping down due to the

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2020-10-30 – Swiss Financial Accounts: quarterly data published for first time

25 days ago

The Swiss National Bank is expanding its data offering with respect to Switzerland’s financial accounts. It will now publish quarterly as well as annual data, and the time to publication will be shortened from ten to four months.
Today the SNB is releasing quarterly data for the period from Q4 2014 to Q2 2020. Annual data are available for the period 1999 to 2013. The data can be accessed in the form of charts and configurable tables on the SNB’s data portal (data.snb.ch, Table selection/Swiss economic affairs/Financial accounts). In future, the publication of the data will be accompanied by focus articles on selected topics relating to the Swiss financial accounts. The first such publication is planned for April 2021.
Financial accounts in a nutshell

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2020-10-22 – Media – Why the SNB opposes the Initiative against war trade

October 22, 2020

The Swiss popular initiative ‘For a ban on financing war material manufacturers’ (Initiative against war trade) will be put to a national vote on 29 November 2020. The SNB opposes the initiative. This page provides background information and explains the rationale for the SNB’s position.
The aim of the initiative
The proposal is to prohibit the old-age and survivors’ insurance scheme (AHV), pension funds, foundations and also the SNB from holding securities issued by companies that derive more than 5% of their annual turnover from the production of war material. It would also be illegal to grant credit to such companies.
Why the SNB opposes the initiative
The new constitutional requirement would create legal uncertainty and major practical

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Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements

October 9, 2020

Seven central banks and the BIS release a report assessing the feasibility of publicly available CBDCs in helping central banks deliver their public policy objectives.
Report outlines foundational principles and core features of a CBDC, but does not give an opinion on whether to issue.
Central banks to continue investigating CBDC feasibility without committing to issuance.
A group of seven central banks together with the Bank for International Settlements (BIS) today published a report identifying the foundational principles necessary for any publicly available CBDCs to help central banks meet their public policy objectives.
The report, Central bank digital currencies: foundational principles and core features, was compiled by the Bank of Canada, the Bank of

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