“The loss on foreign currency positions amounted to around CHF131 billion and the loss on Swiss franc positions was around CHF1 billion. A valuation gain of CHF400 million was recorded on gold holdings,” the SNB said in a statementExternal link on Monday.
The 2022 loss means the SNB will not make its usual payout to the Swiss federal and cantonal governments, it said. Last year it paid out CHF6 billion.
The figures released on Monday are provisional. They mark a reverse from the CHF26 billion profit in 2021. They are also much bigger than the previous record loss of CHF23 billion in 2015.
The loss is unlikely to have an impact on SNB policy. It hiked interest rates three times in 2022 as Chairman Thomas Jordan moved to stem high Swiss inflation, analysts said.
In mid-December the Swiss central bank increased its policy rate and the rate it charges on sight deposits to 1.0% from the 0.5% level set in September. The move follows a 0.5% interest rate hike by the United States Federal Reserve.
The SNB will release detailed annual figures on March 6.
More
More
Swiss central bank hikes interest rate to counter ‘spread of inflation’
This content was published on
The Swiss National Bank (SNB) increased its benchmark interest rate on Thursday for the third time this year, taking it to 1%.
This content was published on
Nemo brought the Eurovision Song Contest to Switzerland with a victory on Saturday evening in Malmö, Sweden. It is Switzerland's third victory in the history of the music contest.
Switzerland abstains from vote on Palestinian bid for full UN membership
This content was published on
On Friday, Switzerland abstained from the vote at the General Assembly on granting the Palestinians new rights at the United Nations (UN).
Protein in abdominal fat could help shape obesity treatment
This content was published on
The study analysed fat cells from different locations in the body, and found that those in the abdomen have unique properties.
North African asylum claims fall after rapid Swiss processing
This content was published on
The accelerated procedure, now out of its test phase, has resulted in a significant drop in applications from North African countries.
This content was published on
The artist's song "The Code" focuses on their journey as a nonbinary individual. It is one of the favourites to win this year's contest.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss central bank hikes interest rate to counter ‘spread of inflation’
This content was published on
The Swiss National Bank (SNB) increased its benchmark interest rate on Thursday for the third time this year, taking it to 1%.
SNB board member says more rate hikes may be needed
This content was published on
The Swiss National Bank (SNB) may raise interest rates again to fight Swiss inflation, says governing board member Andrea Maechler.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.