Swiss National Bank posts large loss due to surge in currency
The Swiss National Bank (SNB) on Friday reported a consolidated loss of Sfr10.8 billion ($13.7 billion) for the first half of 2011.
The SNB said appreciation of the Swiss franc against all major investment currencies had resulted in substantial valuation losses.
"Losses on the SNB's foreign currency positions amounted to some Sfr9.9 billion for the first half of 2011," said the central bank. "This was mainly due to exchange rate-related valuation losses of around Sfr11.7 billion. At mid-year
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