Swiss National Bank (SNB)
People: Sveriges Riksbank appoints new deputy governor
BIS replaces general counsel, SNB announces new head of communications
SNB posts loss of Sfr3.2 billion
Sight deposit account balances drove this year’s loss, Swiss National Bank says
SNB head Thomas Jordan announces retirement
Board chair praises Swiss central banker for leadership in crises and record of change
BIS and partners will test digitising promissory notes
World Bank and SNB to work on project using distributed ledger technology
Finma calls for more powers after Credit Suisse failure
Swiss central bank head had wanted to nationalise the failing global lender
SNB lowers inflation expectations as it keeps rates at 1.75%
Swiss central bank adopts a more dovish communication, analysts expect rate cuts early in 2024
BIS, World Bank and IMF to collaborate on tokenisation project
Digitisation of notes will facilitate transfer of development money to emerging economies
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’ statistical modelling. They could soon revolutionise structural models as well
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
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
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 ever 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