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Regarding reference periods: - Previously:......>

SNB
SNB: Regarding reference periods:
- Previously: The reporting period 20 October 2014-19 November 2014 times 20
(static component) -/+ Increase/decrease in cash holdings resulting from
comparison of cash holdings in current reporting period and corresponding
reporting period in given reference period (dynamic component).
- From Nov 1: Moving average of minimum reserve requirements over the last 36
RPs multiplied by a threshold factor (basis component) - Cash holdings in the
last RP (cash holdings component) (where RP=cash holding period).

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