Swiss National Bank (SNB)
Switzerland investigates need for ‘more specific’ insider trading rules
Head of legal services at the Federal Confederation explains the investigations under way into the circumstances that ultimately caused Philipp Hildebrand to resign as governor of the Swiss National Bank
Macro-prudential policies address root of stability problems, says SNB’s Danthine
SNB governing board member Jean-Pierre Danthine says policies that lean against asset bubbles can create large shortfall in economic growth; prefers forward-looking macro-prudential tools
Gold and currency earnings secure profit for SNB
The Swiss National Bank expects to see annual profit of SFr13 billion ($13.6 billion); able to make the regular distribution to Cantons
Investigation into governing board could delay Swiss governor selection
Thomas Jordan firm favourite to succeed as governor; decision not expected soon as investigation into senior staff's finances continues
Hildebrand succumbs to pressure and resigns
Governor of the Swiss National Bank steps down; mounting political pressure follows uproar over wife’s currency trading activities
Hildebrand defiant over currency trade row
Swiss governor will not resign, expresses regret at political attack on the Swiss National Bank and reveals details of how information was leaked
Swiss governor faces questions over wife’s currency trades
Kashya Hildebrand bought US dollars shortly before Switzerland imposed limit on franc to euro value; Swiss National Bank denies dodgy dealing by governor
CentralBanking.com review of 2011
Round-up of 10 of the leading news stories in 2011
SNB holds rates despite weaker growth outlook
Swiss National Bank holds currency floor at Sfr1.20 to the euro as forecasts project a sharp decline in growth and deflation in 2012
Major central banks take co-ordinated action
Central banks reduce US overnight index swap rate from 100 basis points to 50 basis points above market rate to flood financial system with dollar liquidity
Central banks at risk of losing independence: SNB’s Jordan
Swiss National Bank vice-chairman Thomas Jordan says contribution to quasi-fiscal policy measures can lead to gradual loss of independence
SNB’s Hildebrand ready to intervene in Swiss franc market
Swiss National Bank chairman Philipp Hildebrand says central bank is prepared to weaken “highly valued” currency further if deflationary risks materialise
SNB returns to profit with $19 billion gain
Swiss National Bank reports large profit for first three quarters of 2011 due to valuation gains in gold holdings and decline in foreign currency losses
SNB considers ceasing shareholder dividend payments
Swiss National Bank vice-chairman says central bank may stop paying dividends to its shareholders in order to rebuild its depleted capital base
Could the Swiss start a trend?
Robert Pringle discusses the Swiss National Bank's action to limit the exchange rate between the franc and the euro, and asks if others should, and will, follow
SNB faces battle to maintain franc currency floor
Swiss National Bank pledges to set minimum euro exchange rate at Sfr1.20; analysts express concern over central bank’s ability to maintain exchange rate floor
SNB paper identifies creative destruction effect in competitive markets
Swiss National Bank study expands on Schumpeterian growth models to highlight pro-competitive effects of technology from new entrants
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
Swiss franc rallies as SNB shows no sign of euro peg
Swiss National Bank intensifies battle against strong Swiss franc by injecting further liquidity into markets; pass on euro-peg moves currency 1% higher
Swiss franc falls on euro peg talk
Swiss franc loses 6.7% against the euro and 6.1% against the dollar as markets digest comments by Swiss National Bank vice chairman Thomas Jordan
Switzerland takes further action to weaken the franc
Swiss National Bank acts again to try and stem appreciation; says it remains poised to take further measures
SNB devaluation attempt flounders as Swiss franc rebounds
Swiss franc claws back earlier losses after central bank intervenes to curb rise in currency
Swiss franc declines as SNB eases policy rate
Swiss National Bank moves to stem strengthening of the Swiss franc by easing monetary policy; franc falls 1.97% against the euro following decision
Swiss National Bank posts large loss due to surge in currency
SNB records Sfr10.8 billion ($13.7 billion) loss for the first half of 2011; blames strong appreciation of Swiss franc