Swiss central bank reports record quarterly losses
SNB loses $39.1 billion as falls in equities wipe out gains on Swiss franc positions and gold holdings
The Swiss National Bank recorded its biggest-ever quarterly loss in the first quarter of 2020, it said today (April 23).
The SNB lost Sfr38.2 billion ($39.1 billion), in stark contrast to the Sfr30.8 billion profit it made in the same period of 2019. The loss was largely as a result of the very sharp fall in equity values caused by the coronavirus pandemic. “The unfavourable stock market environment led to a loss of Sfr31.9 billion on equity securities and instruments,” said the SNB.
The total
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