Switzerland
SWFs investment in banks: an alarming trend?
In the wake of the credit crunch banks' capital cushions have deflated dangerously. And, in response, some have turned to one group of investors untouched by subprime credit or by mark-to-market reporting requirements: sovereign wealth funds (SWFs)…
Swiss exchange rate has no impact on rate-setting
The Swiss franc exchange rate is only relevant in monetary policy insofar as it has an impact on Swiss inflation, says Jean-Pierre Roth, the chairman of the Swiss National Bank.
UBS shareholders uneasy with SWF investment
Shareholders at UBS, the Swiss bank, are threatening a revolt over capital injections worth Sfr 13 billion ($11.2 billion) from two sovereign wealth funds.
SWF stakes should be limited: SNB's Hildebrand
Sovereign wealth funds' stakes in foreign companies must be significantly below the threshold of a controlling minority to avoid a resurgence of state ownership, said Philipp Hildebrand, the vice chairman of the Swiss National Bank.
Central banks collaborate to ease interbank woe
In one of the most significant co-operative central banking efforts of modern times, five of the world's most powerful monetary authorities joined forces in a bid to restore order in the interbank markets.
UBS reveals $10 billion subprime loss
UBS, a bank, said on Monday that it would write down $10 billion-worth of subprime losses, the second largest amount revealed so far. The bank also said it could make a loss for the financial year because of its subprime liabilities.
Crisis not yet over - Switzerland's Hildebrand
The subprime crisis that triggered the credit market turbulence is undoubtedly not yet over and further global financial market turbulence is likely to slow down the Swiss economy, said vice-president of the Swiss National Bank Philipp Hildebrand in a…
Swiss bulletin predicts US slowdown
The Swiss National Bank's latest monetary policy report presented a pessimistic outlook for the US economy.
SNB adjusts three-month inter-bank target
The Swiss National Bank said on Thursday that it was increasing its three-month Libor (London inter-bank offered rate) by 25 basis points to 2.75% in an effort to calm the Swiss franc money market.
Government bond liquidity key - Swiss banker
"A liquid market for government bonds is a great advantage for the functioning of financial markets and for an efficient monetary policy," Swiss National Bank board member Thomas Jordan argued on Tuesday.
The emergence of principles-based policy
The Swiss National Bank has published a paper reviewing what it describes as the success of its principles-based approach to monetary policy.
Central bank gold sales to approach limit
Members of the central bank gold agreement (essentially the eurozone plus Sweden and Switzerland) have sold 396 tonnes in the first 10 months of the "gold year", as much as the total for the whole of last year.
Swiss chairman criticises US subprime
Jean-Pierre Roth, the chairman of the Swiss National Bank described the US subprime crisis as "unbelievable" and said that reality was "striking back"
Dollar sell-off claims prompt Chinese reaction
A spokesperson for the People's Bank of China has countered reports in the British media that the central bank plans to use its vast dollar reserves as a political weapon against the United States.
Roth refutes hedge fund risk
The highly leveraged institutions (HLI) industry is "no direct threat to financial stability," Jean-Pierre Roth, chairman of the governing board of the Swiss National Bank and chairman of the board of directors of the Bank for International Settlements,…
BIS annual report 2006-07
New board members and nearly a billion dollars in profit were among the highlights of this year's report from Basel.
SNB raises rates, sells gold
The Swiss National Bank has raised interest rates by 25 basis points to 2.5% on 14 July. The central also announced that it will sell 250 tonnes of gold and increase its foreign exchange reserves by a corresponding amount.
Swiss National Bank - Annual Report 2006
With almost one-third of its assets in gold, 2006 was another strong year for the Swiss National Bank, as the 99th annual report details.
BIS Quarterly Review, June 2007
Published on June 11, the Bank of International Settlements' Quarterly Review features articles on the bond market term premium, statistics on payments, recent episodes of credit card distress in Asia, and liquidity in the Brazilian government bond…
IMF's Article IV consultation with Switzerland
The IMF on 4 June released the staff report and public information notice regarding the conclusion of its Article IV consultation with Switzerland. The Fund projected 2% growth of real GDP in 2007, down from 2.7% in 2006.
The importance of monetary aggregates
This ECB working paper presents a strong argument in favour of using monetary aggregates as an analytical tool for predicting future inflation.
Knight's term of office at BIS extended
The Board of Directors of the Bank for International Settlements (BIS) announced Monday 7 May that it has extended the term of office of the General Manager, Malcolm Knight, to mid-2009.
SNB's Roth with a review of the Swiss economy
In the speech 'Review of the Swiss economy in 2006 and the outlook for 2007' given on 27 April Jean-Pierre Roth of the Swiss National Bank said with the Swiss economy close to full employment, the Swiss National Bank currently operates in a comfortable…
SNB's Roth sees risk from low inflation
Swiss National Bank president Jean-Pierre Roth told the bank's general meeting of shareholders Friday 27 April that the SNB will raise interest rates if necessary but expects inflation to remain moderate.