Swiss National Bank

"Gold standard"

The Swiss National Bank (SNB) is a source of national pride. With record low central bank key rates, currently at minus 0.75 per cent, almost the entire Swiss yield curve dipped into negative territory in 2016. The SNB had CHF42.2bn worth of gold at the end of 2018.

Foreign-currency purchases over the past few years, to combat the upward pressure on the Swiss franc, resulted in an increase in foreign-exchange reserves. Eighty per cent of the SNB’s foreign-currency holdings are invested in high-quality bonds, with the rest in equities.

In 2017 the SNB held more shares in Facebook than company owner Mark Zuckerberg (who now owns more shares again).

Did you know?

  • CHF 63 billion, or 9.4 per cent, is the financial sectors contribution to Swiss GDP in 2018. It is a key pillar of the Swiss economy.
  • 40 per cent of unsecured loans and 29% of secured loans in Switzerland are granted by major banks

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