Swiss franc
SNB’s Danthine: traders wrong to paint Swiss franc surge as black swan
It was 'absolutely certain' that SNB would end Swiss franc floor, says vice-chair of the governing board
SNB plans renminbi purchases in 2015
Central bank plans to add renminbi bonds to reserves after signing swap agreement with the People’s Bank of China in 2014; annual report reveals return of 8% across currency reserves
IMF tells SNB to consider asset purchases
In the face of slowing growth and deepening deflation the Swiss National Bank should ease monetary policy, which could be done via purchases of foreign currency assets, IMF says
SNB balance sheet could not have coped with peg defence, says Jordan
Chairman says decision to abandon Swiss franc ceiling avoided huge losses and monetary policy impairment; central bank slashes inflation forecast but does not follow Riksbank’s rate cut
VAR limits: dislocations put focus on other lines of defence
Dislocations in the Swiss franc and the US Treasury market have highlighted the limitations of standard regulatory capital models, but banks insist their other lines of defence are up to the task
Jordan laments ‘significantly overvalued’ franc
Some of the ‘overshooting’ that occurred in the wake of the SNB’s decision to withdraw its currency cap has been corrected, but Jordan argues the franc is still too strong
Croatian central bank calls for solution to Swiss franc mortgage quandary
Bank argues local households with liabilities denominated in the rising currency must receive help but suggests it is not the right to institution to tackle the issue
Danish central bank cuts rates for second time this week
National Bank of Denmark lowers deposit rate for second time in four days following ECB action; central bank will defend euro peg ‘vehemently', says analyst
Economists at SNB study reuse of collateral
Working paper estimates the level of reuse activity in the Swiss franc report market between 2006 and 2013, before analysing the drivers of it
SNB shocks markets by abandoning euro ceiling ahead of ECB showdown
Swiss franc sharply appreciates against the euro in the wake of the Swiss National Bank’s decision to scrap the minimum exchange rate; central bank does not rule out ad hoc interventions
SNB expects profit of $39 billion for 2014
Foreign currency positions responsible for most of the profit for Swiss National Bank, which increased its forex reserves by 7% in December following exchange rate pressure
External imbalances predict exchange rate returns, finds SNB paper
Deviations from trends in Swiss net foreign assets and net exports indicated how nominal exchange rate will move in the future, according to a Swiss National Bank working paper
Central Bank of Hungary digs into reserves to supply banks with foreign currency
Measure aims to cover balance sheet mismatch prompted by government plan to convert forex loans into local currency; central bank will allocate €3 billion for the purpose
SNB reports profit of almost $18bn for first half of the year
Swiss National Bank recovers from $10bn loss in 2013; profit on foreign currency positions amounts to Sfr 12.6bn, while gold holdings see Sfr 3.5bn valuation gain
SNB strikes deal to invest in Chinese bond market
Thomas Jordan and Zhou Xiaochuan establish new swap line in deal, which also permits the SNB to invest up to $2.4 billion in renminbi-denominated assets
Reserve managers continue push into diverse currencies
Latest data from the IMF shows non-traditional reserve currencies continue to see their share of global reserve holdings grow; sterling, yen and the Swiss franc fall in favour
SNB chair shrugs off critique of Swiss exchange rate ceiling
Thomas Jordan says Swiss franc peg prompted by 'safe haven' status is neither at odds with long-standing current account surplus nor undermining adjustment of global financial imbalances
Banknotes worth $2m stolen from Swiss printer
Investigation under way into theft of incomplete Sfr1,000 notes that subsequently entered circulation as counterfeits
SNB reiterates commitment to franc price ceiling and zero interest rate
Swiss National Bank is ready to buy unlimited quantities of foreign exchange and take other measures if required to hold the franc down; inflation should turn positive next year, it says
SNB currency action leaves big imprint on Swiss balance of payments
Reserve assets at the SNB increased by Sfr175 billion in 2012 – nearly a fourfold increase from 2011 – reflecting efforts to keep the franc at a sustainable level
SNB reaffirms commitment to exchange rate limit
Thomas Jordan says Swiss economy continues to face 'major challenges'; Fritz Zurbrügg outlines efforts to control risks arising from the central bank's $475 billion foreign currency investments
SNB research finds Swiss franc is only safe haven against some currencies
Paper suggests Swiss franc is a safe haven from euro but not from other major reserve currencies; says this may be down to small size of market
Swiss paper finds SNB's 2009 bond purchase policy narrowed spreads
Researchers find 'unique' Swiss bond purchase programme had a 'discounted portfolio balance effect of the expected purchases, as distinct from policy signalling'
SNB profits halve in 2012
Swiss National Bank reveals expected profits for 2012 are less than half the figure for 2011