Swiss National Bank posts record $143 billion loss in 2022
Swiss National Bank posts record $143 billion loss in 2022

Using preliminary data, the Swiss National Bank announced a loss of 132 billion Swiss francs ($143 billion) for the 2022 fiscal year.

It is the largest loss in the 116-year history of the central bank and amounts to about 18% of Switzerland's anticipated 744.5 billion Swiss franc gross domestic product. In 2015, a loss of 23 billion francs was the previous record.

It said that as a result, it would not make its customary payments to the Swiss government and member states. Payments to its shareholders would also be impacted. The bank announced a 26 billion franc profit in 2021.

While the Swiss franc saw significant gains as investors rushed to the currency because it was seen as a safe haven amid the volatility in Europe, 131 billion francs of the losses came from its foreign currency assets and 1 billion from its Swiss franc holdings.


source:
https://www.reuters.com/business/finance/swiss-national-bank-posts-record-143-billion-loss-2022-2023-01-09/

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