Central Banking

SNB to close Geneva office as cash distribution services are outsourced


The Swiss National Bank (SNB) on Tuesday said it will close its Geneva office in January next year as part of plans to outsource its cash distribution service to the private sector and concentrate activities at its other offices.

The closure of its Geneva office on January 31, 2012, was announced after the SNB's Bank Council agreed to proposals by its governing board to shut down cash distribution services in Geneva and concentrate its activities at its offices in Zurich and Berne.


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