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Swiss National Bank posts 12bn franc Q3 loss
The Swiss National Bank on Tuesday posted a 12.04 billion franc ($13.36 billion) loss for the third quarter as the central bank lost money on its gold, foreign currency investments and Swiss franc positions. The SNB lost 9.16 billion francs from its foreign currency positions during the three months to the end of September, as bond and equity prices fell on concerns that global interest rates would remain higher for longer. It also made a valuation loss of 132 million francs on the 1,040 metric tons of gold it holds, as global gold prices fell. In addition, the central bank reported a 2.66 billion franc loss from ... (full story)