TABLE-Swiss sight deposits up in week ending Feb 7

Mon Feb 10, 2014 5:59am EST

ZURICH, Feb 10 (Reuters) - The amount of cash commercial
banks hold with the Swiss National Bank rose last week to
317.119 billion Swiss francs ($353.06 billion), from 316.730
billion francs in the previous week, data showed on Monday.
    The level is partly a measure of how inclined banks are to
find an ultra-safe home for their money and may also reflect
efforts by the SNB to defend the 1.20 per euro cap it imposed on
Sept. 6, 2011 on the soaring safe-haven Swiss franc.   
    
    Sight deposits of domestic banks: 
 Week ending                Amount in Sfr millions
 Feb 7                      317 119
 Jan 31                     316 730
 Jan 24                     318 849
 Jan 17                     321 471
 Jan 10                     320 783
 Jan 3                      317 620
 Dec 27                     318 519
 Dec 20                     317 071
 Dec 13                     316 323
 Dec 6                      317 408
 Nov 29                     319 824
 Nov 22                     319 746
 Nov 15                     318 409
 Nov 8                      317 758 
 Nov 1                      317 566
 Oct 25                     319 248 
 Oct 18                     320 460
 Oct 11                     320 879
 Oct 4                      319 602
 Sept 27                    318 453
 Sept 20                    317 844
 Sept 13                    318 106
 Sept 6                     318 117
 Aug 30                     320 865
 Aug 23                     321 598
 Aug 16                     320 768
 Aug 9                      320 402
 Aug 2                      320 695
 July 26                    322 373
 July 19                    322 435
 July 12                    323 833
 July 5                     320 960
 June 28                    296 862
 June 21                    277 450
 June 14                    274 706
 June 7                     275 403
 May 31                     279 216
 May 24                     280 967 
 May 17                     278 637
 May 10                     278 526
 May 3                      280 794
 April 26                   284 222
 April 19                   284 327
 April 12                   281 734
 April 5                    281 665
 March 29                   283 799
 March 22                   282 979
 March 15                   282 164
 March 8                    283 026
 March 1                    286 144
 Feb 22                     288 048
 Feb 15                     285 025
 Feb 8                      280 226
 Feb 1                      281 934 
 Jan 25                     283 522
 Jan 18                     284 331
 Jan 11                     283 683
 Jan 4                      282 640
 
    Sight deposits are the accounts of commercial banks with the
central bank, and constitute a large part of the liquidity in
the banking system. 
    As part of its efforts to weaken the franc, which shot to
near parity with the euro last August, the SNB began flooding
the money market with cash and raised total sight deposits to
200 billion, before capping the franc against the euro a month
later.
    The SNB's tools for expanding sight deposits are foreign
exchange swaps and repurchases of its own debt.




($1 = 0.8982 Swiss francs)

 (Reporting by Zurich newsroom)
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