2023-07-31 08:41:10
ZURICH, July 31 (Archyde.com) – The Swiss National Bank (SNB) posted a second-quarter loss of 13.20 billion Swiss francs (13.8 billion euros) on Monday as interest rate hikes in other central banks having reduced the value of its bond portfolio.
The SNB recorded losses of 8.08 billion francs on its foreign currency positions of 742 billion francs, due to falling bond prices.
The half-year result was nevertheless supported by a profit of 900 million francs from interest payments, mainly emergency liquidity provided to Credit Suisse and UBS, the central bank said.
At the end of June, the total outstanding loans granted by the SNB amounted to 66.7 billion francs. (Report John Revill, French version Corentin Chapron, edited by Kate Entringer)
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