Switzerland central bank announces 51bn dollars loss in six months

Monday, August 3rd 2015 - 05:07 UTC

Full article 3 comments

Switzerland's central bank announced Friday it had suffered a loss of 50.1 billion francs ($51 billion, 47 billion Euros) in the first half of the year, down on the 16.1 billion francs in profit logged for the same period a year earlier. Read full article

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ChrisR
So in reality it has lost 67.1 Bn francs!

Brilliant performance, bonuses all round.

Stunning decision and timing regarding the de-coupling!

Dear me, I bet nobody has resigned over this.
Aug 03rd, 2015 - 01:06 pm - Link - Report abuse 0
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Don Alberto
Why would anyone resign over the simple fact, that a high exchange rate reduces the value of foreign currency?

The bank hasn't lost money except when you calculate the value in Swiss francs. Their dollars, euros, etc. has the same external value.
Aug 03rd, 2015 - 02:52 pm - Link - Report abuse 0
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ChrisR
@ 2 Don Alberto

Try telling that to the people who trusted the bank to hold the link in currencies and lost their shirt when it was suddenly removed.

The Daily Telegraph Finance were scathing at the Swiss.
Aug 03rd, 2015 - 05:44 pm - Link - Report abuse 0
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