The sharp declines on the stock markets by the end of the year have left clear traces in the result of the Swiss national Bank (SNB). The SNB has for 2018, according to provisional Figures, a loss of around 15 billion Swiss francs, after she had written the year before to a record profit of 54.4 billion. The Confederation and the cantons can, nevertheless, reckon once again with a payout of 2 billion Swiss francs.
The high loss for the year is mainly attributable to the foreign currency positions of the SNB, on which the 2018 resulted in a loss of 16 billion Swiss francs, as a SNB-message from Wednesday. Here, the strong downturn of the global stock is likely to have markets. Furthermore, the Euro has weakened in the past year, the Swiss franc, while in turn, the U.S. Dollar has appreciated.
On the gold holdings a valuation loss of 0.3 billion Swiss francs, resulted in the meantime. With their Swiss franc positions, where the Bank benefits not the least of the negative interest rates on sight deposits, the SNB with a success of 2 billion Swiss francs.
Strong fluctuations in earnings
Since the result of the national Bank is predominantly from the development of the foreign exchange, Gold and capital markets, strong fluctuations in the result of the rule. The SNB-record profit of 54.4 billion Swiss francs from the year 2017 was not least due to the then very favorable stock market environment.
The clear loss for the financial year does not come as a surprise. For the first nine months of 2018, the national Bank had reported a loss of 7.8 billion Swiss francs. In the fourth quarter, a further decline of around 7 billion Swiss francs, this resulted in. UBS’s Economists had predicted in the run-up to a SNB-year loss of 14 billion.
High payout reserve
The allocation to the provisions for currency reserves for 2018 will amount to according to the report, around 5.4 billion Swiss francs. After taking into account the existing distribution reserve of 67.3 billion and a balance sheet resulting in a profit of about 47 billion, the SNB.
This allows for a dividend payment of CHF 15 per share, which corresponds to the statutory maximum amount, as well as a profit distribution to the Confederation and the cantons CHF 1 billion. The Confederation and the cantons is also a supplementary profit distribution of CHF 1 billion, since the distribution reserve exceeds after appropriation of profit in the amount of 20 billion.
The distributable amount of the total of 2 billion Swiss francs, one-third to the Confederation and two-thirds to the cantons. After these payments, the distribution reserve, the SNB will amount to about 45 billion Swiss francs. The detailed report on the annual accounts with definitive Figures, the SNB is at the 4. March to publish the annual report at 21. March 2019.
(red/sda)
Created: 09.01.2019, 08:28 PM
