At least he ate some of his own cooking…For whatever reason, it appears that Hildebrand kept his investment portfolio in euros and would fund CHF spending out of his portfolio.
Odd for a central banker to keep his savings in a currency other than his own, no?
Two foreign exchange transactions by Philip Hildebrand were in connection with the procurement of liquidity for the payment of bills for the renovation of real estate owned and used by himself. Units in a multi-manager fund worth a total of EUR 856,465.33 were
sold and in both cases the proceeds were then exchanged for Swiss francs, for a value of CHF 1,308,137.25.
• The first foreign exchange transaction, on 17 March 2009, entailed the sale of EUR 700,000 and purchase of CHF 1,072,610.
• The second foreign exchange transaction, on 18 June 2009, entailed the sale of EUR 156,465.33 and purchase of CHF 235,527.25.
Both foreign exchange transactions were carried out at a time when the SNB was conducting monetary policy measures.
KPMG has found no indication with regard to these transactions which would suggest that
