Ballooning balance sheet yields further ‘profit’ for SNB

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The Swiss National Bank (SNB) today (October 31) revealed its profits for the first three quarters of the year grew to Sfr16.9 billion ($18.2 billion), up from Sfr6.5 billion in the first half of the year.

The largest proportion of the gains came from the SNB's foreign currency positions, which gave a net return of Sfr10.3 billion. The central bank also saw a return of Sfr6.2 billion on its gold holdings and Sfr94 million on Swiss franc positions.

Profits are somewhat higher than 2011, when the

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