Swiss National Bank out with their Q12017 earnings 27 April
- profit on foreign ccy holdings CHF 5.3bln
- valuation gain of CHF 2,2bln on gold holdings
- CHF + 0.5bln profit on CHF positions essentially comes from negative interest rates on sight depo balance
SNB still having their cake and very much eating it. Their on-going intervention continues to help reverse rectify the huge losses shown in the wake of the 2015 CHF cap removal
They have this proviso though:
"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"
Full report here
USDCHF 0.9934 EURCHF 1.0832 both tightly bound still.
