SNB ups allocation to currency reserves
The Swiss National Bank (SNB) has adjusted its rules for allocations to its currency reserves, allowing it to retain more profit amid continued use of foreign exchange interventions.
The central bank has introduced a minimum 8% of provisions rule, it announced today (December 19), to be used when determining the allocation as provision for the currency reserve.
The existing rule, which will remain in force, is for an allocation of double nominal GDP growth over the past five years. However
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