SNB expects $21.7 billion loss for 2010
The Swiss National Bank on Friday said it will report an annual loss for the financial year of 2010 of Sfr21 billion ($21.7 billion) as a result of gains in the Swiss franc against a basket of currencies.
The SNB said the loss largely owed to a net loss on its foreign currency position of Sfr26 billion following a sharp rise in the value of the Swiss franc against the euro and the dollar. This compares to an overall reported profit in the 2009 financial year of Sfr10 billion. It said an overall
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com