SNB with large minus in the first quarter

Specifically, the SNB reported a loss of CHF 32.8 billion for the period from January to March 2022, as announced on Thursday. While there was a minus of 36.8 billion on the foreign currency positions, there was a valuation gain of 4.2 billion on the gold holdings, which were unchanged in terms of quantity.

The profit on the Swiss franc positions was only 10.6 million francs. The negative interest charged on current account balances was offset in particular by price losses on interest-bearing securities and instruments.

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