Category Archive: 1) SNB and CHF

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Swiss franc could hit 1.22 by year end, according to economists

2018-01-15

According to Le Matin, economists at Swiss Life think the rise of the Swiss franc could be over and predict it will weaken to 1.22 to the euro by the end of the year. At the same time they point to risks that could send the currency in the opposite direction, such as the election in Italy, Brexit negotiations and uncertainty surrounding government in Germany.

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Dividendes de la BNS: le compte n’y est pas

2018-01-11

by Liliane Held-Khawam

2018-01-11

La Banque nationale suisse s’attend à un bénéfice de 54 milliards de francs pour l’exercice 2017. Celui-ci résulte de: Un gain de 49 milliards de francs sur ses positions en monnaies étrangères. D’une plus-value de 3 milliards de francs sur l’or. D’un bénéfice de 2 milliards de francs sur ses positions en franc.

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UBS-Präsident Axel Weber wird sein blaues Wunder erleben – mit der Zahlungsunfähigkeit der SNB

2018-01-10

by Marc Meyer

2018-01-10

Axel Weber hat zwei Seelen in seiner Brust: eine als Ex-Notenbanker, eine als UBS-Präsident. Als Präsident der Deutschen Bundesbank hatte der Deutsche Weber gesagt, es gäbe keine Einlösungsverpflichtung der Deutschen Bundesbank für eine Banknote. „Wirtschaftlich gesehen sind unsere Banknoten eine Verbindlichkeit des Eurosystems.

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Swiss National Bank expects annual profit of CHF 54 billion

2018-01-09

by SNB

2018-01-09

According to provisional calculations, the Swiss National Bank (SNB) will report a profit in the order of CHF 54 billion for the 2017 financial year. The profit on foreign currency positions amounted to CHF 49 billion. A valuation gain of CHF 3 billion was recorded on gold holdings. The net result on Swiss franc positions amounted to CHF 2 billion.

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L’endettement des banques centrales est une réalité! Exemple de la BNS

2018-01-08

by Liliane Held-Khawam

2018-01-08

Avant-propos: Le texte de la conférence de M Jordan de 2011 semble ne plus être disponible sur le net. Du coup, nous le publions ici malgré le Copyright. Ce genre de documents doit être connu du grand public, puisqu’il est le garant de cette institution privée (société anonyme cotée en bourse, soumise à une loi fédérale. L’actionnariat est réparti ainsi: https://www.snb.ch/fr/iabout/snb/org/id/snb_org_stock ), qu’est la BNS.

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Die Magie des gesetzlichen Zahlungsmittels

2017-12-29

by Christoph Zenger

2017-12-29

Seit der Aufhebung der Golddeckung durch Präsident Nixon im Jahre 1971 sind die meisten Währungen der westlichen Welt reines Fiatgeld. Was heisst das? Zur Beantwortung der Frage beziehe ich mich ganz bewusst – wie übrigens soweit möglich im ganzen Text – auf keine Lehrbücher oder anderes universitäres Material. In Wikipedia (Stand 3.9.2017) steht:

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Swiss National Bank buys paper factory for banknote production

2017-12-27

by Swissinfo

2017-12-27

To guarantee the smooth roll-out of its new banknote series, the Swiss National Bank (SNB) has bought a struggling paper factory in eastern Switzerland. The takeover of Landqart AG, valued at CHF21.5 million ($21.7 million), is split between the SNB (90%) and the security printing division of Swiss publisher Orell Füssli (10%).

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In Unprecedented Intervention, Swiss Central Bank Bails Out Firm That Prints Swiss Banknotes

2017-12-21

by Tyler Durden

2017-12-21

In the most ironic story of the day, the company that makes the paper that Swiss banknotes are printed on was just bailed out by the money-printing, stock-purchasing, plunge-protecting, savior-of-global equities…Swiss National Bank. While The SNB has a long and checkered history of buying shares in companies… as we have detailed numerous times.

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Swiss National Bank acquires majority stake in Landqart AG

2017-12-21

by SNB

2017-12-21

Yesterday, the Swiss National Bank (SNB) acquired 90% of the shares in Landqart AG. The remaining 10% of the share capital will be purchased by Orell Füssli Holding Ltd. The vendor is a subsidiary of Fortress Paper Ltd, which is listed on the Toronto stock exchange.

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Bubble Watch: Warning Signs That The Everything Bubble Will Burst in 2018

2017-12-20

by Graham Summers

2017-12-20

I believe 2018 will be the year inflation arrives. The reason, as I’ve noted throughout mid-2017, is that multiple Central Banks, particularly the European Central Bank (ECB), Bank of Japan (BoJ) and Swiss National Bank (SNB) have maintained emergency levels of QE and money printing, despite the fact that globally the economy is performing relatively well.

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Direct Investments in 2016

2017-12-18

by SNB

2017-12-18

In 2016, companies domiciled in Switzerland invested CHF 71 billion abroad. Swiss direct investment abroad thus fell short of the CHF 90 billion recorded in 2015, due primarily to lower investment activity by finance and holding companies. All other industry categories combined actually exceeded the level of the previous year with investment abroad of CHF 62 billion (2015: CHF 46 billion). Of this total, CHF 29 billion was accounted for by...

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Swiss Perfectionism

2017-12-18

by Dirk Niepelt

2017-12-18

Kostensteigerung bei der SNB, 2006 - 2016

In Der Bund, Adrian Sulc comments on the Swiss National Bank’s perfectionism. Keine andere Schweizer Organisation kommuniziert so professionell wie die SNB, keine andere Organisation kann so gut dichthalten. Perfectionism is costly. Der Personalbestand ist in den letzten fünf Jahren um 18 Prozent auf 795 Vollzeitstellen gestiegen. … Die durchschnittlichen Lohnkosten pro Mitarbeiter betragen mittlerweile 155 000 Franken pro Jahr. Dies weil gemäss...

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Trump Mueller

2017-12-17

by Tyler Durden

Jim Grant: “Markets Trust Too Much In The Presence Of Central Banks”

2017-12-15

by Christoph Gisiger

2017-12-15

James Grant, Wall Street expert and editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns of the unseen consequences of super low interest rate and questions the extraordinary actions of the Swiss National Bank. Nearly ten years after the financial crisis, extraordinary monetary policy has become the norm.

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Mediengespräch – Conférence de presse – News conference – Conferenza stampa, 14.12.2017

2017-12-15

by SNB

Mediengespräch – Conférence de presse – News conference – Conferenza stampa, 14.12.2017 00:00 Einleitende Bemerkungen von Thomas Jordan, Präsident des Direktoriums der Schweizerischen Nationalbank – Remarques introductives de Thomas Jordan, président de la Direction générale de la Banque nationale suisse – Introductory remarks by Thomas Jordan, Chairman of the Governing Board of the Swiss National …

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News conference Swiss National Bank, Thomas Jordan

2017-12-14

by Thomas Jordan

2017-12-14

SNB Chairman Jordan speaks to media during a news conference in Bern

It is a pleasure for me to welcome you to the Swiss National Bank’s news conference. I will begin by explaining our monetary policy decision and our assessment of the economic situation. I will then hand over to Fritz Zurbrügg, who will speak about current developments in the area of financial stability. After that, Andréa Maechler will review the situation on the financial markets and the progress in reference interest rate reform. Finally, we...

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SNB Monetary Assessment Dec 2017, Introduction

2017-12-14

by Andréa Maechler

2017-12-14

The monetary policy pursued by the large central banks was once again the focus of attention for the financial markets in the second half of the year. Given moderate inflation growth, financial market participants are expecting only a very gradual normalisation of monetary policy across the world. Against this backdrop, government bond yields have remained persistently low. Muted expectations regarding a move away from expansionary monetary policy,...

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News conference Swiss National Bank 2017, Fritz Zurbrügg

2017-12-14

by Fritz Zurbrügg

2017-12-14

In my remarks today, I would like to address some of the developments currently taking place in the field of financial stability. I shall look at the big banks first before turning to the domestically focused banks. I will conclude with a few words on the new banknote series.

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SNB Monetary policy assessment of 14 December 2017

2017-12-14

by SNB

2017-12-14

SNB Switzerland Conditional Inflation Forecast

The Swiss National Bank (SNB) is maintaining its expansionary monetary policy, with the aim of stabilising price developments and supporting economic activity. Interest on sight deposits at the SNB is to remain at –0.75% and the target range for the three-month Libor is unchanged at between –1.25% and –0.25%. The SNB will remain active in the foreign exchange market as necessary, while taking the overall currency situation into consideration.

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