Swiss National Bank to record losses in 2022

The Swiss National Bank (SNB) announced a loss of 132 billion Swiss francs ($143 billion) last year amid high volatility in capital markets. This was the SNB’s largest loss in its 115-year history. In a statement, the SNB announced that the bank lost 132 billion Swiss francs ($143 billion) last year amid high volatility in foreign exchange and capital markets. It is noteworthy that this figure is the SNB’s largest loss in its 115-year history. While the SNB incurred a loss as falling equity and fixed-income markets reduced the value of its stock and bond portfolio, the SNB was also hit by the appreciation of the Swiss franc, which had a negative impact on the Bank’s income. The SNB, which has recently raised interest rates in an effort to combat inflation, lost 131 billion Swiss francs on its foreign exchange positions. The Bank’s gold position gained 400 million Swiss francs. The bank announced a profit of 26 billion Swiss francs in 2021 and distributed dividends of 6 billion Swiss francs.