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SNB tightens rules in wake of Hildebrand affair

This content was published on Jan 7, 2012 A meeting of the bank’s council decided on Saturday to subject all financial transactions made by members of the enlarged governing board between January 1, 2009 and December 31, 2011 to review by external auditors. “It became evident that, given the events of the past few days and developments in financial markets, as well as…

Central banker remains under pressure from right

This content was published on Jan 6, 2012 Christoph Blocher reiterated allegations of insider trading against Philipp Hildebrand, describing him as a “speculator” no longer tenable as chairman of the central bank. Blocher hinted that several informers at several banks had information about private financial activities by leading figures of the National Bank. He did not elaborate. In an apparent u-turn, Blocher on Friday…

Stable franc indicates SNB credibility intact

This content was published on Jan 6, 2012 The Hildebrand affair has so far failed to undermine the central bank’s defence of the SFr1.20 euro exchange rate ceiling, while observers doubt that the ongoing row will dent the SNB’s operational credibility. The credibility of central banks is key to their efficiency at maintaining price stability and – as is the current case of…

National bank chief convinces Swiss newspapers

This content was published on Jan 6, 2012 But they demanded clarifications to unanswered questions, a day after Hildebrand dismissed suggestions he should resign, saying his only mistake was to let his American wife conduct a particularly sensitive transaction from their joint account. The Neue Zürcher Zeitung (NZZ) said Hildebrand had to “at least try to provide evidence [that he’s] beyond all suspicion…

Central banker rejects claims over private deals

This content was published on Jan 5, 2012 He said he had no plans to resign and accused opponents of trying to exploit false allegations for political ends. Breaking his silence to counter a national uproar on Thursday, Hildebrand said he had acted according to the central bank’s internal rules in the United States dollar swaps, which came as he was spearheading efforts…

Romney gets support from Swiss banks

This content was published on Jan 5, 2012 The non-profit Center for Responsive Politics tracks money and its influence on US elections and public policy. It found that through Credit Suisse, Romney had received $203,750 (SFr193,560) for the 2012 election cycle. The money did not come from the bank directly, but rather from its political action committee, its employees or owners, or those…

National bank chief to explain transactions

This content was published on Jan 5, 2012 Hildebrand and his wife Kashya have been accused of timing currency transactions to profit after the SNB set a minimum exchange rate for the franc against the euro. However, both the bank and the government have said that Hildebrand did no wrong. On Wednesday the SNB published its internal regulations on individual trading for board…

Revelations emerge about central bank affair

This content was published on Jan 4, 2012 The bank revealed on Tuesday that the employee, who worked in the bank’s IT sector and who had subsequently handed himself over to police, had given the information to a lawyer with close links to the rightwing People’s Party. “According to the employee, this lawyer then arranged a meeting with [People’s Party deputy chairman] Christoph…

In times of economic crisis, should central banks retain their independence?

This content was published on Jan 4, 2012 But should there not be a measure of political control over actions taken by the bank and its head?

Free trade dream meets biggest challenge

This content was published on Jan 4, 2012 And if the World Trade Organization (WTO) fails to make progress on the most pressing problems this month, Switzerland may join forces with powerful economies to tackle issues which it cannot hope to solve alone. While Switzerland has successfully developed a web of FTAs, with many like-minded countries around the world, the biggest developing economies…

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SNB tightens rules in wake of Hildebrand affair

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Central banker remains under pressure from right

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Stable franc indicates SNB credibility intact

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National bank chief convinces Swiss newspapers

More

Central banker rejects claims over private deals

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Romney gets support from Swiss banks

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National bank chief to explain transactions

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Revelations emerge about central bank affair

More

In times of economic crisis, should central banks retain their independence?

More

Free trade dream meets biggest challenge

Popular Stories

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