Swiss National Bank (SNB)
SNB cuts interest payments amid losses
Swiss central bank lost over Sfr12 billion in Q3
People: Novelist named to Honduras central bank board
SNB official retires next year; two new vice-presidents at ADB; and more
SNB surprises markets by holding rates at 1.75%
Swiss central bank to allow all banks to use mortgages as collateral to access liquidity
Banknotes: July to September 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Machine learning pushes frontier of forecasting
AI techniques are starting to transform central banks’ modelling
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
SNB to test wholesale CBDC in real-world pilot
Tokenised assets will be settled on the SIX Digital Exchange
Switzerland and Norway raise rates
Norges Bank expects further increases while SNB does not rule them out
Major central banks set out CBDC policy debates
BIS and central banks discuss major policy issues that still need to be solved
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
IMF’s financial counsellor discusses the need for action on run rate assumptions, interest rate risk, deposit insurance and crypto regulation
ECB, BoJ, BoE and SNB reduce Fed dollar liquidity operations
Seven-day operations will decrease from daily to once a week
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
SNB increases rates by 50bp in wake of Credit Suisse crisis
Swiss central bank sold Sfr27 billion in foreign currency in Q4 to tighten financial conditions
How Finma milked Credit Suisse’s CoCos to close UBS deal
An unusual clause in Swiss AT1 bonds allowed them to be written off, but could others follow suit?
ECB questions Credit Suisse bond bail-in
Swiss government, SNB and Finma organise rescue of troubled lender that pays out to equity-holders
Central banks step up dollar liquidity support
But initial auction results show little evidence of pressure on dollar funding
SNB to lend up to $54 billion to Credit Suisse
Swiss central bank and supervisory authority say bank meets capital requirements
SNB’s Maechler to take deputy role at BIS
Senior Swiss official will replace Luis Awazu Pereira da Silva as deputy general manager
Banknote themes in motion
Antti Heinonen asks whether the world is about to witness a revolution in banknote images
Marks (and sizes and colours) of distinction
Many central banks make an effort to make cash accessible to blind and partially sighted users
Bank of Canada may be set for billions of losses
Think-tank warns losses could pose reputational risk for central bank
The behind-the-scenes effort to convert Ukrainian refugee cash
How central and commercial banks worked to allow Ukrainians to exchange cash in wartime
European rates: Norway expects more tightening next year
Switzerland raises rates 50bp and Denmark raises rates in line with ECB
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months