The Swiss National Bank expects a record-high profit of Sfr54 billion ($55.28 billion) for 2017, the central bank said today (January 9).
The results come in at more than double the figure recorded by the central bank in 2016, when it gained Sfr24.5 billion. High bond and equity prices have increased the value of the central bank’s foreign exchange reserves, with additional returns coming from the weaker franc. The profit on foreign currency positions has reached Sfr49 billion, according to the
- Auditors find ‘flaws’ in ECB’s crisis management framework
- Home truths on Europe’s NPLs
- Central banks lack ‘firepower’ to combat financial crises, says report
- Economists need to better understand macrofinancial links – BIS paper
- Ukrainian bank owners carried out ‘co-ordinated fraud’, forensic audit says