Swiss National Bank Posted Record Loss in 2022 Due to Downturn in Financial Markets

By Xavier Fontdegloria

The Swiss National Bank posted in 2022 its largest loss ever after a downturn in financial markets put a strain on its foreign-exchange holdings.

The Swiss central bank reported a loss of 132.5 billion Swiss francs ($141.57 billion) for 2022, broadly in line with the preliminary data reported in January and swinging from a CHF26.3 billion profit in 2021.

The loss was driven by a deterioration in the value of foreign-currency positions, which posted a loss of CHF131.5 billion, reflecting the decline in financial markets throughout the year.

The result means the SNB won't make a payout to the Swiss state and regional cantons.

Write to Xavier Fontdegloria at [e-mail]

(END) Dow Jones Newswires

03-06-23 0513ET