The Swiss National Bank (SNB) is reporting a loss of CHF 50.1 billion for the first half of 2015. The loss on foreign currency positions amounted to CHF 47.2 billion. A valuation loss of CHF 3.2 billion was recorded on gold holdings. The SNB’s financial result depends largely on developments in the gold, foreign exchange and capital markets. Strong fluctuations are therefore to be expected, and only provisional conclusions are possible as regards the annual result. Loss on foreign currency positions The negative result on foreign currency positions amounted to CHF 47.2 billion in total. On 15 January 2015, the SNB ... (full story)