SNB strikes deal to invest in Chinese bond market

PBoC and SNB sign agreement

The Swiss National Bank (SNB) can invest up to $2.2 billion francs ($2.4 billion) in the Chinese bond market after striking a deal with the People's Bank of China (PBoC) this morning.

Switzerland has one of the largest reserve holdings in the world. The SNB held $545 billion on May 31, around $496 billion of which was invested in foreign currencies, according to the latest data.

Were the SNB to meet the entire renminbi quota, it would still only account for around 0.49% of its total foreign curr

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