Tag Archive: Seigniorage

The Theory: Seigniorage Effect and Central Banks as Quasi-Fiscal Player

willem buiter


Read More »

SNB Q1 Results: Bottom-Fishing Cheap Yen, Increases Equity Share with Gains and Margin Debt

2013-04-30

by

2013-04-30

snb q1-q4 currency breakdown
We regularly publish the SNB asset structure by currency, rating & duration, they might be a template for the tactical asset allocation in these dimensions (CHF certainly excluded) for other fixed income and/or rather conservative asset managers. Composition of SNB Forex Reserves, Q1/2013 With the strong results of 11.2 billion francs, the SNB reduced the …

Read More »

Composition of SNB Reserves Q4, 2012, Yield on Investment

2013-03-07

by

2013-03-07

snb q4 2012 breakdown by currency
We regularly publish the SNB asset structure by currency, rating & duration, they might be a template for the tactical asset allocation in these dimensions (CHF certainly excluded) for other fixed income asset managers. Moreover we publish the yield on investment.   Composition of SNB Forex Reserves, Q4 2012 The Swiss National Bank (SNB) saw …

Read More »

SNB Results Q3 2012: SNB Radically Reduces Euro Share from 60% to 48%

2012-11-02

by

2012-11-02

snb q3 breakdown in currencies usd eur gbp
SNB Q3 Profits: 10 billion francs   The Swiss National Bank (SNB) radically reduced its euro share, in the third quarter from 60% to 48%, and bought US dollars and sterling instead. In the second quarter, however, it increased the euro share from 51% to 60% and concentrated on buying euros. Given that the EUR/USD was … Continue reading...

Read More »

Trade Like a Central Bank: Buy EUR/USD at 1.24 and sell at 1.30! .. SNB

2012-10-31

by

2012-10-31

q1-q3 snb currency breakdown
Composition of SNB Forex Reserves, Q3 2012  The Swiss National Bank (SNB) reduced the share of euros in the third quarter substantially from 60% in Q2 to 48% in Q3 and increased dollar and pound positions. The SNB bought 80 billion euros or more when the common currency was trading around 1.24$, especially at the end of …

Read More »

SNB Results: SNB poised for 10 billion CHF quarterly profit

2012-07-26

by

2012-07-26

jordan vs. ackermann was it a pyhrrus Victory ? snb results q2/2012
  On July 31st the Swiss National Bank will publish interim results for the second quarter 2012. Already now we offer  an estimate to our readers. Our estimate does not cover the central bank’s Forex trading results, they are difficult to estimate. A central bank is not a day trader, therefore the influence should be limited. …

Read More »