Swiss National Bank posted its biggest annual loss in its 115-year history at $143 billion
The strong Swiss franc, which rose above parity against the euro in July, led to exchange rate-related losses.
The Swiss National Bank has posted an annual loss of $143 billion in 2022, the biggest in its 115-year history. The provisional figure posted by the bank on Monday came as falling stock and fixed-income markets hit the value of its share and bond portfolio. A strengthening Swiss franc also had a negative impact.
Marking a reverse from a 26 billion franc profit in 2021, teche loss in 2022 is far bigger than the previous record of 23 billion francs chalked up in 2015. It is equivalent to slightly more than the annual GDP of Morocco.It made a loss of 131 billion francs from its foreign currency positions - the more than 800 billion francs in stocks and bonds it bought during a long campaign to weaken the Swiss franc.
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Swiss National Bank posts record $143 billion loss in 2022The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($143 billion) in 2022, it said on Monday, the biggest in its 115-year history as falling stock and fixed-income markets hit the value of its share and bond portfolio.
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