MNI BRIEF: SNB Loss Totals CHF 142 Billion To Date In 2022

The Swiss National Bank has reported losses totalling CHF 142 billion for the first nine months of 2022. FX losses amounted to CHF 141.0 billion, Swiss franc positions fell CHF 24.1 million, and gold holding deteriorated by CHF 1.1 billion, the central bank said in a statement Monday.

Of the SNB's foreign exchange losses, interest-bearing paper and instruments lost CHF 70.9 billion, while price loses of CHF 54.2 billion stemming from equity securities and instrument were recorded. Interest and dividend income accounted for CHF 5.1 billion and CHF 3.4 billion, respectively.

Earlier this year former SNB economist Sarah Lein warned in an interview with MNI that the Swiss central bank could face damage to credibility domestically if it failed to distribute profits to the state, as it does most years.