The Swiss National Bank lost $143 billion in 2022
The Swiss National Bank (SNB) announced a loss of 132 billion Swiss francs ($143 billion) last year due to high fluctuations in the capital markets.
In the statement issued by the SNB, it was stated that the Bank lost 132 billion Swiss francs ($143 billion) last year due to high fluctuations in the currency and capital markets. Notably, the figure in question was the biggest loss in the SNB’s 115-year history.
SNB turned into a loss as the equity and fixed income markets depreciated the value of its stock and bond portfolio, while the appreciation of the Swiss franc had a negative impact on the Bank’s income.
LOSS OF 131 BILLION DOLLARS FROM CURRENCY POSITIONS
The loss on currency positions for the SNB, which recently increased interest rates to combat inflation, was 131 billion Swiss francs. The bank’s gold position increased by 400 million Swiss francs.
In 2021, the bank announced a profit of 26 billion Swiss francs and distributed a dividend of 6 billion Swiss francs. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
