Swiss National Bank - Annual Report 2004

The Swiss National Bank has published its Annual Report for the year ended 2004. The SNB's financial results for 2004 registered a distributable profit of CHF 20.7 billion, as compared with CHF 2.3 billion a year earlier.

"From an organisational and operational perspective, the implementation of the new NBA played a pivotal role in the year under review. This required the drafting and passing of the SNB's legal basis (National Bank Ordinance, Organisation Regulations, Terms of Business

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