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Swiss National Bank confirms 23.3 bln Sfr loss for 2015
March 4, 2016 / 12:45 PM / in 2 years

Swiss National Bank confirms 23.3 bln Sfr loss for 2015

ZURICH, March 4 (Reuters) - Switzerland’s central bank on Friday confirmed it posted a record loss of 23.3 billion Swiss francs ($23.45 billion) in 2015.

The loss was largely due to losses on the SNB’s foreign currency holdings given the franc’s surge in value when the Swiss National Bank ended its cap against the euro on Jan. 15 last year.

The franc’s appreciation forced the SNB into losses of 19.9 billion francs on its foreign currency positions. The full-year earnings follow preliminary numbers on Jan. 8.

The SNB also confirmed it would still pay out a dividend for 2015 thanks to profits set aside from prior years.

SNB profits are not part of its monetary policy mandate but the annual payments have sometimes meant the difference between a budget surplus and a budget deficit for some cantons.

$1 = 0.9937 Swiss francs Reporting by Joshua Franklin; Editing by Michael Shields

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