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

For the first time in the history of the Swiss National Bank, its losses reached 18 percent of GDPThe main theme of the world's main financial "pod", What is Switzerland often called?, becomes the topic of capital dynamics. If for many decades the Swiss banking system was perceived in the world, if not as ideal, how close to that, 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 with the, what you need to open customer data when requested from outside, for example, American intelligence agencies.

At the moment, the total losses are being calculated., which, as a result 2022 borne by the National Bank of Switzerland. According to preliminary estimates, losses were the highest in the history of the National Bank, amounting to more 130 billion Swiss francs (it is more 140 billion). If these amounts are expressed in terms of Swiss GDP, then the losses can reach incredible for this country 18% of the total economy. This has never happened before in the history of the Swiss National Bank., operating as an independent financial and credit institution since the beginning of the 20th century.

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

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 beyond 2022 financial year. Without dividends, SNB investors last time remained in 2014 year, however, then there were no such impressive losses for the National Bank, as at the end of the year 2022. It is by taking into account the fact, that the final figures of losses have not yet been calculated. And the loss could be even greater., what is currently valued.

Recall, that Switzerland previously froze Russian state assets in its currency.

A source

                          
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