SNB profits boosted by gold revaluation

SWITZERLAND - In its 2000 annual report released on Apr 3, 2001, the Swiss National Bank said that net profit for 2000 had jumped to 28.2 billion Swiss francs ($16.3 billion), boosted by a one-off 27.7 billion franc revaluation of gold holdings.

The central bank said that 18.9 billion francs will be set aside. The rest will be released in connection with a sale of gold holdings no longer needed as a monetary policy reserve. Revenues from the gold sales are to be used partly either to bolster e

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