Billion profit: So much pours out of the SNB, in addition

The Swiss national Bank (SNB) pays because of their high reserves of extra money to the Federal government and the cantons. For the past year in 2019, to a tota

Billion profit: So much pours out of the SNB, in addition

The Swiss national Bank (SNB) pays because of their high reserves of extra money to the Federal government and the cantons. For the past year in 2019, to a total of 4 billion Swiss francs.

The SNB has signed with the Federal Department of Finance (FDF), a supplementary agreement on the distribution of profit of the national Bank. This looks specifically to increase the dividends for the years 2019 and 2020, to a maximum of 4 billion Swiss francs if the distribution reserve exceeds certain threshold values, such as the FDF and the SNB said on Monday.

The current agreement, which dates back to the year 2016, provides for an annual distribution of 1 billion and an increase to 2 billion francs if the distribution reserve (after appropriation of profit) exceeds the value of 20 billion. Now, two further threshold values, namely 30 billion or 40 billion. These values are exceeded, is paid an additional billion.

earnings potential rose

Since 2016 have increased the earnings potential of the SNB and the distribution reserve is to grow, it means for the justification of the additional distribution. So, the SNB has achieved about a last year, a final net profit of 48.9 billion francs, as announced also on Monday.

The main reason for this is mainly the strong equity markets in the past year, but also the interest payments and the rising gold price helped. Specifically, profit on foreign currency positions 40.3 billion, on gold 6.9 billion, and Swiss franc positions 2.1 billion Swiss francs from stock.

One-third Federal, two-thirds to the cantons

thanks to this, profits increased, the distribution reserve as of the end of 2019 to around 88 billion, of which both the conditions of the supplementary agreement are met, and 4 billion Swiss francs, for distribution get. The amount is as usual one-third to the Confederation and two-thirds to the cantons.

After these payments, the distribution reserve will amount to thus still 84,0 billion Swiss francs. The opportunities for the Federal government and the cantons are so good that you can also be expected for 2020, with an additional payout. Sure, this is not, however, because of the SNB's profit is strongly influenced by the development of the financial markets.

Should fall in the stock markets and the Swiss franc to rise sharply, it could retract, the SNB is also a major loss. This was about 2018, when the SNB had to accept a loss of almost 15 billion, or 2015 as the Minus after the dissolution of the Euro minimum exchange rate at all 23.3 billion fraud.

As the regular agreement will expire in 2020, is then developed for the years 2021 to 2025, a new regular agreement, as it says in the message from the FDF and the SNB. (Dec/sda)

Created: 02.03.2020, 07:38 PM

Updated Date: 02 March 2020, 17:03

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