For the first time in the history of the Swiss National Bank, its losses reached 18 percent of GDP

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For the first time in the history of the Swiss National Bank, its losses reached 18 percent of GDP

The main theme of the world's main financial "pod", as Switzerland is often called, is the theme of capital dynamics. If for many decades the Swiss banking system was perceived in the world, if not as ideal, then as close to it, now times are changing. One of the reasons for this is the decision of the Swiss authorities themselves to renounce their long-term military-political sovereignty and take part in the sanctions war (against Russia). At the same time, the management of Swiss financial and credit organizations meekly agreed that it was necessary to open customer data when requested by, for example, American intelligence agencies.

At the moment, the total volume of losses incurred by the Swiss National Bank in 2022 is being calculated. According to preliminary estimates, the losses were a record for the entire history National Bank, amounting to more than 130 billion Swiss francs (more than 140 billion dollars). If these amounts are expressed in terms of Swiss GDP, then the losses can reach an incredible 18% of the entire economy for this country. This has never happened in the entire history of the Swiss National Bank, which has been operating as an independent financial and credit institution since the beginning of the XNUMXth century.



The record losses of the Bank of Switzerland for the first time in a long time will lead to the fact that both the federal government of the country and the governments of the Swiss subjects - the cantons - will remain without due dividend payments.

From the press release of the National Bank:

In accordance with the provisions of the Law on the National Bank and the agreement on the distribution of profits between the Federal Department of Finance and the National Bank, the identified balance loss makes it impossible to distribute for the 2022 financial year.

The SNB investors last time remained without dividends in 2014, but then there were no such impressive losses for the National Bank as at the end of the year 2022. This is taking into account the fact that the final loss figures have not yet been calculated. And the loss may be even greater than currently estimated.

Recall that earlier Switzerland froze Russian state assets in its currency.
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    1. +5
      January 10 2023
      For the first time in the history of the Swiss National Bank, its losses reached 18 percent of GDP
      Capitalism, all over the world, will bury itself .. and the world will fall into dust ..
      1. +1
        January 10 2023
        Quote: parusnik
        Capitalism

        Swiss "gnomes" in flight....
        Switzerland froze Russian state assets held in its currency.
        And on someone else's loaf, don't open your mouth! am
      2. +3
        January 10 2023
        Quote: parusnik
        For the first time in the history of the Swiss National Bank, its losses reached 18 percent of GDP
        Capitalism, all over the world, will bury itself .. and the world will fall into dust ..

        Switzerland's sanctions policy towards Russia will bring it to a zugunder. am
        The theft of Russian money raises the question of the reliability of Swiss banks. They did not do this with Hitler's money, because Hitler is his own, Euro-fascist. am
        This is what the life-giving ruble does. drinks
        1. 0
          January 10 2023
          Well, idiots, what can you do, normal bankers close their losses at the expense of the population or the state. Our banks are the most stable.
          1. -1
            January 10 2023
            So our banking industry is subsidized, and they have a budget-forming one :)
        2. -1
          January 10 2023
          Quote: Bearded
          Switzerland's sanctions policy towards Russia will bring it to a zugunder.
          The theft of Russian money raises the question of the reliability of Swiss banks.


          This is how to look .... the article states that the Swiss National Bank suffered losses, but what are the reasons?

          And here are the reasons:

          The negative financial result is associated with a sharp strengthening of the franc this year due to the desire of investors to invest in a more stable economy amid European volatility, writes CNBC. When inflation averaged 10 percent in the eurozone, it was XNUMX percent in Switzerland.


          So it's all about the details... as long as the West and the rest of the world have confidence in the Swiss economy.
          1. +2
            January 10 2023
            A bank, what, not an investor? So he has the main margin from this - he attracts clients' money and "puts them into circulation" - money should make money. Have you invested a hell of a lot, unlike other investors who have invested in the Swiss economy against the backdrop of pan-European volatility? Or are other investors recording losses as well? An unclear explanation - "he speaks beautifully, seems to be correct, but ... it is not clear."
            1. -1
              January 10 2023
              Quote: Dismas
              Obscure explanation


              Okay, let's take a closer look.

              What are the losses of the National Bank of Switzerland? With the strengthening of the national currency - i.e. franc, in which investors (banks, large funds, organizations, etc.) have invested, and the nat itself. the bank had currency positions in foreign currency, and 1 billion on the positions of the Swiss franc + this is not in the CNBC article, but the fall in the value of the stock and bond portfolios of the national bank also played a role ...

              As for the Swiss economy, inflation is much better there than in the Eurozone, and even better than in the United States. Which, in turn, played into the hands of strengthening the nat. currency - franc, because capital does not stand still, but is looking for where it is better, and in this case, Switzerland has become a safe haven. And in general, everything is pretty good with the economy there (by today's standards).

              And if you take the current article on VO where:

              The main theme of the world's main financial "pod", as Switzerland is often called, is the theme of capital dynamics. If for many decades the Swiss banking system was perceived in the world, if not as ideal, then as close to it, now times are changing. One of the reasons for this is the decision of the Swiss authorities themselves to renounce their long-term military-political sovereignty and take part in the sanctions war (against Russia).


              then this is not true, and there is an attempt to wishful thinking. because the reasons for the losses are somewhat different.
    2. +16
      January 10 2023
      The Swiss banking system was based on trust in it. Now those times are in the past.
      1. +3
        January 10 2023
        Quote: Sergey 777
        The Swiss banking system was based on trust in it. Now those times are in the past.

        The management of Swiss financial and credit organizations meekly agreed that it is necessary to open customer data when requested by, for example, American intelligence agencies.

        The phrase "safe as in a Swiss bank". gone into the past. I think it's irreversible.
    3. +6
      January 10 2023
      losses became a record in the history of the National Bank, amounting to more than 130 billion Swiss francs (more than 140 billion dollars). If these amounts are expressed in terms of Swiss GDP, then the losses can reach an incredible 18% of the entire economy for this country.
      In the meantime, somewhere in New York, someone rubbed sweaty palms pretty.
      Another intermediate goal of the policy of economic and financial murder of Europe has been achieved.
      1. +2
        January 10 2023
        Keep your money in the shares of American enterprises! Profitable, convenient, reliable. In the USA, they happily rubbed their hands. "Alive" $ returned to the American economy. Without idiots, life is boring. (A saying of American bankers) hi
    4. +3
      January 10 2023
      Open customer data when requested by, for example, US intelligence agencies.

      There is not a single country on planet Earth that would feel comfortable contacting the US intelligence services. If for many decades the Swiss banking system was perceived in the world, if not as ideal, then as close to it, now times are changing. One of the reasons for this is the decision of the Swiss authorities themselves to renounce their long-term military-political sovereignty and take part in the sanctions war (against Russia).
    5. +3
      January 10 2023
      How much has been said about sanctions, that the West is sawing the branch on which it sits, these are the first flowers, guarantees of private property are no longer valid, capital is looking for where it is better.
    6. +8
      January 10 2023
      Already to such an extent, do not care about Europe, even to the point of obscenity ... When it falls apart, I will give a standing ovation.
      1. +2
        January 10 2023
        Already to such an extent, do not care about Europe, even to the point of obscenity ... When it falls apart, I will give a standing ovation.

        In this case, he is ready to stand nearby, shouting Hooray and, like a madman, tossing his hat.
    7. +2
      January 10 2023
      Switzerland traded precisely with neutrality and, having accepted one of the parties, nullified all its rules, Bravo!
    8. 0
      January 10 2023
      losses were a record for the entire history of the National Bank, amounting to more than 130 billion Swiss francs (more than 140 billion dollars)
      And if they had not succumbed to mass Western schizophrenia in relation to Russia, you see, and the losses were much less. And if they remained sovereign in secrecy of bank deposits, then perhaps there were no losses. Correctly in "Yeralash" they said: "Do not hang out with this boy, he will teach you bad things." And Switzerland herself ran to this "boy" with a request that he teach her bad things.
    9. +1
      January 10 2023
      Swiss banks are no longer the same and there is no point in them now
    10. 0
      January 10 2023
      "The record losses of the Bank of Switzerland for the first time in a long time will lead to the fact that both the federal government of the country and the governments of the Swiss subjects - cantons will be left without due dividend payments" - the eagles do not need money! (from a joke about Petka and Vasily Ivanovich)
    11. +2
      January 10 2023
      Why do you attribute the withdrawal of funds by depositors to losses? It is necessary to write about the outflow of funds from deposits, and not about losses. Losses - when you lose your money...
      1. 0
        January 10 2023
        Quote: also a doctor
        Why do you attribute the withdrawal of funds by depositors to losses? It is necessary to write about the outflow of funds from deposits, and not about losses. Losses - when you lose your money...

        Because for a banker, all the funds deposited in the bank are already his funds, and by returning them to depositors, he can no longer use them and receive the planned profit, and this is a loss.
      2. 0
        January 10 2023
        Because there is a big "Egyptian" difference between the bank's financial assets (raised funds - the same deposits) and the bank's profit (income received from the management of these assets).
    12. for
      +3
      January 10 2023
      For the first time in the history of the Swiss National Bank, its losses reached 18 percent of GDP

      This is lost income from the Russian oligarchs.
      Where, then, did they leave these revenues?
      1. 0
        January 10 2023
        Quote: for
        Where, then, did they leave these revenues?

        Seek and find.... tongue
    13. +1
      January 10 2023
      Recall that earlier Switzerland froze Russian state assets in its currency.
      our money will cover the losses
      1. +1
        January 10 2023
        Yep, if they find it. Freeze does not mean take away.
    14. +1
      January 10 2023
      And they say that the sanctions imposed against Russia have a zero result. Lie, the result is on the face.
    15. 0
      January 10 2023
      That is, having frozen Russian assets, they remained at a loss. Maybe we are talking about Russia, she was deprived of her money.
    16. 0
      January 10 2023
      Recall that earlier Switzerland froze Russian state assets in its currency.
      Well, what is left to confiscate them, to cover the "shortage" ...))) But what, "neutrality"
    17. 0
      January 10 2023
      Hello guys So this is a problem and it will affect us very much!
    18. 0
      January 11 2023
      A completely meaningless number, without indicators of GDP, budget, public debt, economic dynamics, and other things.

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