Search Results for: Swiss franc
Swiss National Bank leaves expansionary monetary policy unchanged
September 15th, 2016
The Swiss National Bank (SNB) is maintaining its expansionary monetary policy. Interest on sight deposits at the SNB is to remain at –0.75% and the target range for the three-month Libor is unchanged at between –1.25% and –0.25%. At ...
Swiss bank UBS is to face legal action for encouraging tax fraud that could cost it billion euros
July 11th, 2016
Swiss bank UBS, along with several of its former executives, is to face legal action for encouraging tax fraud that could cost it five billion euros, if judges accept a public prosecutor’s recommendation, reports said Friday. The company sent ...
Swiss Town Accepts Bitcoin for Public Services
May 10th, 2016
A town in Switzerland has begun to accept Bitcoin payments for certain city services. The northern town of Zug decided to allow Bitcoin payments earlier this month for public services as a part of a trial run. The municipality services will ...
The Swiss National Bank reports a profit of CHF 5.7 billion for the first quarter of 2016.
May 9th, 2016
The Swiss National Bank (SNB) reports a profit of CHF 5.7 billion for the first quarter of 2016. A valuation gain of CHF 4.1 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF ...
The Swiss National Bank announced that the Swiss Interbank Clearing payment system goes into operation
April 21st, 2016
The Swiss National Bank (SNB) welcomes the successful operational start-up of the technically overhauled Swiss Interbank Clearing (SIC) payment system by SIX Interbank Clearing Ltd on the settlement day 15 April 2016. The SIC system, used by banks to ...
AMF France warns against the activities of Binary Options Trading websites that are not authorised
March 28th, 2016
The Autorité des Marchés Financiers (AMF), the financial regulatory authority of France, has issued a press release to inform investors and public for Binary Options Websites offering their services in France without the necessary authorisation by AMF. Below is ...
Swiss National Bank published the Annual results for 2015
March 7th, 2016
The Swiss National Bank (SNB) is reporting a loss of CHF 23.3 billion for the year 2015 (2014: profit of CHF 38.3 billion). The loss on foreign currency positions amounted to CHF 19.9 billion. A valuation loss of CHF ...
France launches probe into UBS subsidiary over fraud case
March 3rd, 2016
France on Wednesday launched an official investigation into the French subsidiary of Swiss banking giant USB for alleged witness intimidation, a source close to the case told AFP. UBS France is suspected of trying to silence a whistle-blower who ...
Switzerland Weathers the Superstrong Franc
January 15th, 2016
It was in a small, wood-paneled boardroom overlooking Lake Zurich that Thomas Jordan and his colleagues at the Swiss National Bank made a decision that caught global markets unawares, infuriated Swiss industrial leaders, and tipped the economy dangerously close ...
Swiss National Bank expects annual loss of CHF 23 billion
January 11th, 2016
Ordinary profit distribution, thanks to large distribution reserve According to provisional calculations, the Swiss National Bank (SNB) will report a loss in the order of CHF 23 billion for the 2015 financial year. The loss on foreign currency positions ...
