Swiss National Bank estimates it’ll record $143 billion loss

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Fixes the size of the 2021 profit.

The Swiss National Bank on Monday estimated it will lose 132 billion francs ($143 billion) for 2022, reportedly the largest in its history.

The central bank, which unlike most others is an active investor in stock markets, said it’s estimating a 131 billion franc loss on foreign currency positions, and a 1 billion loss on Swiss franc
USDCHF,
-0.39%
positions, offset by about a 400 million franc gain on gold positions. It will report detailed results on March 6.

The loss means it won’t distribute any profits to central and regional Swiss governments, the SNB said.

Last year, the Swiss central bank registered a profit of 26.3 billion francs. As of Sept. 30, the central bank had 889 billion francs in assets.

Source
Las Vegas News Magazine

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