Swiss Central Bank reports losses from January to March
The European entity presented its report for the first quarter of 2020 where it highlighted that the result obtained is the worst in its 113-year history
The Swiss National Bank (SNB) estimates that in the first quarter of 2020 it registered losses amounting to 36,369 million euros, the worst quarterly result in the almost 113 years of history of the Swiss central bank, as a consequence of the impact of the crisis of the Covid-19 in the entity’s positions in securities and foreign currency, as indicated by the institution.
“The first quarter of 2020 was dominated by the worldwide spread of the coronavirus. The measures taken to contain the pandemic seriously impacted financial markets since the middle of the quarter, and, consequently, also the result of the SNB”, he acknowledged.
Thus, in the first quarter of the year, the central bank recorded an adverse result of 39,199 million euros in its international portfolio, including losses of 29,213 million euros due to the unfavorable impact of the market environment on the shares, in addition to another 16,268 million euros for losses linked to exchange rates.
In contrast, in its international portfolio, the institution recorded interests and dividends amounting to 2,664 million euros and a capital gain of 4,852 million euros in interest-bearing securities.
The SNB is established as a special entity whose shares are listed on the standard domestic segment of the Swiss Stock Exchange. The institution’s majority shareholders are public entities, including the Swiss cantons and their respective cantonal banks.
K. Tovar
Source: Expansion
