no. The Swiss National Bank (SNB) closed the first quarter with a large minus. According to the media release, the bank reported a loss of CHF 32.8 billion. This is primarily due to price losses on shares and interest-bearing securities.
The loss on foreign currencies was CHF 36.8 billion, while there was a valuation gain of CHF 4.2 billion on gold holdings. The central bank made a plus of 10.6 million francs on the Swiss franc positions.
In its announcement, the SNB emphasized that its results are heavily dependent on the development of the gold, foreign exchange and capital markets. Strong fluctuations are normal and conclusions about the annual result are therefore only possible to a limited extent.
More to come.