SNB posts loss of Sfr3.2 billion

Sight deposit account balances drove this year’s loss, Swiss National Bank says

Swiss National Bank (SNB)
The Swiss National Bank
Jennifer Delaney

The Swiss National Bank (SNB) announced a loss of Sfr3.2 billion ($3.62 billion) for 2023, it said in a press release on March 4. 

The results were driven by losses on positions in Swiss francs amounting to Sfr8.5 billion, an eight-fold increase compared with 2022. This was largely “a result of Sfr7.4 billion in remuneration of sight deposit account balances”, the bank added.

The SNB encourages an active money market and sufficient liquidity by limiting the interest it pays out to commercial banks

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