Swiss National Bank (SNB)
SNB reaffirms commitment to exchange rate limit
Thomas Jordan says Swiss economy continues to face 'major challenges'; Fritz Zurbrügg outlines efforts to control risks arising from the central bank's $475 billion foreign currency investments
SNB's Jordan slams gold referendum
Thomas Jordan says limiting Swiss National Bank's control over gold reserves would be ‘detrimental to Switzerland'; reveals location of holdings in face of public pressure
SNB paper analyses relationship between monetary policy and financial integration
Study finds that monetary policy can have a larger effect on output and inflation under conditions of greater financial and trade integration
SNB research finds Swiss franc is only safe haven against some currencies
Paper suggests Swiss franc is a safe haven from euro but not from other major reserve currencies; says this may be down to small size of market
SNB vice-chair tells people to ‘fasten seatbelts’ following CCB activation
Jean-Pierre Danthine says activation of the counter-cyclical capital buffer aims to avoid a sharp fall in property prices and rise in defaults, but achieving a soft landing will be challenging
Swiss National Bank faces referendum over gold sales
Politicians seek to prevent SNB from selling gold and force the central bank to hold 20% of assets in the precious metal via a public referendum
Nalm 2013: Sound central bank risk practices could choke off liquidity
Central banks are more activist in reserves management, with some looking to private sector for inspiration. But there are dangers with such a approach, say panellists at Central Banking conference
Swiss paper finds SNB's 2009 bond purchase policy narrowed spreads
Researchers find 'unique' Swiss bond purchase programme had a 'discounted portfolio balance effect of the expected purchases, as distinct from policy signalling'
Central banks are 'not competing' over currencies, says Swiss bank chief economist
Central banks are pursuing domestic priorities and are not engaged in competitive devaluation, says keynote speaker at FX Invest Europe conference
SNB activates capital buffer in face of overheating mortgage market
Swiss National Bank applies 1% counter-cyclical capital buffer to mortgage lenders as imbalances in the real-estate market worsened in the second half of 2012
SNB profits halve in 2012
Swiss National Bank reveals expected profits for 2012 are less than half the figure for 2011
Swiss paper considers how GDP is best forecast
Study says forecasting the individual components of GDP does not produce results worthy of the additional effort
SNB to open branch in Singapore
Swiss central bank will transfer Asian portfolio managers to new office in Singapore as it looks to diversify reserves further
Central banks extend swap arrangements
Bank of Canada, Bank of England, European Central Bank, Swiss National Bank and US Federal Reserve extend temporary US dollar and bilateral swap agreements
SNB will not abandon minimum exchange rate, Jordan says
Thomas Jordan reaffirms the Swiss National Bank’s commitment to a minimum of 1.2 Swiss francs to the euro; inflation expected to remain negative next year
SNB’s Zurbrügg defends fiscal-monetary relationship
Swiss National Bank board member says tension only arises in times of crisis and monetary policy is burdened with expectations
SNB’s Jordan warns against ‘overburdening’ monetary policy
Swiss National Bank chairman says macro-prudential instruments are better suited to address financial stability
SNB taking outsized risk in equities in challenging environment, says board official
The Swiss National Bank has allocated 12% of its burgeoning forex reserves to global equities, a level that is significantly above an allocation based purely for diversification benefits
Ballooning balance sheet yields further ‘profit’ for SNB
Swiss National Bank’s profits show continued growth in third quarter with the largest contribution from foreign exchange holdings; balance sheet has increased 45% during the year
National production gaps don’t drive stock markets, says Swiss paper
Study by the Swiss National Bank finds global business cycle risks affect stock markets more than any nation-specific production gap
SNB paper examines Swiss franc unsecured money market
SNB research considers banks' ability to access central bank money; finds it is a neglected area of policy
SNB bond-buying ‘exacerbating’ euro fragmentation – S&P
Rating agency says Swiss National Bank activity is deepening divergent market conditions for euro sovereign issuance
SNB maintains minimum exchange rate
The Swiss National Bank announces an unchanged minimum exchange rate; Swiss franc has not depreciated as expected
Swiss franc expected to retrace its fall as ECB news sinks in
The euro rallied against the Swiss franc for the first time in six months after yesterday’s announcement of new measures from the ECB, but FX strategists expect it to fall back towards 1.20