Swiss National Bank (SNB)
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'
Central banks are 'not competing' over currencies, says Swiss bank chief economist
Central banks are pursuing domestic priorities and are not engaged in competitive devaluation, says keynote speaker at FX Invest Europe conference
SNB activates capital buffer in face of overheating mortgage market
Swiss National Bank applies 1% counter-cyclical capital buffer to mortgage lenders as imbalances in the real-estate market worsened in the second half of 2012
SNB profits halve in 2012
Swiss National Bank reveals expected profits for 2012 are less than half the figure for 2011
Swiss paper considers how GDP is best forecast
Study says forecasting the individual components of GDP does not produce results worthy of the additional effort
SNB to open branch in Singapore
Swiss central bank will transfer Asian portfolio managers to new office in Singapore as it looks to diversify reserves further
Central banks extend swap arrangements
Bank of Canada, Bank of England, European Central Bank, Swiss National Bank and US Federal Reserve extend temporary US dollar and bilateral swap agreements
SNB will not abandon minimum exchange rate, Jordan says
Thomas Jordan reaffirms the Swiss National Bank’s commitment to a minimum of 1.2 Swiss francs to the euro; inflation expected to remain negative next year
SNB’s Zurbrügg defends fiscal-monetary relationship
Swiss National Bank board member says tension only arises in times of crisis and monetary policy is burdened with expectations
SNB’s Jordan warns against ‘overburdening’ monetary policy
Swiss National Bank chairman says macro-prudential instruments are better suited to address financial stability
SNB taking outsized risk in equities in challenging environment, says board official
The Swiss National Bank has allocated 12% of its burgeoning forex reserves to global equities, a level that is significantly above an allocation based purely for diversification benefits
Ballooning balance sheet yields further ‘profit’ for SNB
Swiss National Bank’s profits show continued growth in third quarter with the largest contribution from foreign exchange holdings; balance sheet has increased 45% during the year
National production gaps don’t drive stock markets, says Swiss paper
Study by the Swiss National Bank finds global business cycle risks affect stock markets more than any nation-specific production gap
SNB paper examines Swiss franc unsecured money market
SNB research considers banks' ability to access central bank money; finds it is a neglected area of policy
SNB bond-buying ‘exacerbating’ euro fragmentation – S&P
Rating agency says Swiss National Bank activity is deepening divergent market conditions for euro sovereign issuance
SNB maintains minimum exchange rate
The Swiss National Bank announces an unchanged minimum exchange rate; Swiss franc has not depreciated as expected
Swiss franc expected to retrace its fall as ECB news sinks in
The euro rallied against the Swiss franc for the first time in six months after yesterday’s announcement of new measures from the ECB, but FX strategists expect it to fall back towards 1.20
Swiss board member supports counter-cyclical capital buffer
Jean-Pierre Danthine examines impact of CCB on Switzerland’s financial sector; says it would have mitigated property crisis in 1990s
SNB’s Jordan defends decision not to activate capital buffer
Thomas Jordan explains the choice not to activate counter-cyclical capital buffer; nevertheless says this is ‘far from an all-clear’ as the risk of further imbalances persists
SNB reveals scale of latest foreign exchange purchases
Swiss National Bank posts large increase in foreign exchange holdings from June to July; purchases represent efforts by central bank to prevent safe-haven flows into country
Swiss National Bank posts profit in first half of year
Latest figures show central bank made a profit in first half of the year; majority of gains come from holdings of foreign currency purchased to maintain minimum exchange rate against euro
SNB paper links low interest rates and housing bubbles
Swiss National Bank working paper finds strong relationship between low short-term rates and housing bubbles; argues house prices can be controlled by following ‘Taylor rule’
SNB paper evaluates central bank communication strategies
Swiss National Bank working paper examines two communication strategies designed to reduce market overreaction to announcements
Poland finalises Swiss currency swap agreement to protect banking sector
National Bank of Poland signs 'precautionary' currency swap deal with Swiss National Bank; in place to deal with liquidity pressures surrounding financing in Swiss francs