Annual loss for Swiss National Bank precludes profit distribution

According to provisional calculations, the Swiss National Bank will report a loss in the order
of CHF 132 billion for the 2022 financial year. The loss on foreign currency positions
amounted to around CHF 131 billion and the loss on Swiss franc positions was around CHF 1
billion. A valuation gain of CHF 0.4 billion was recorded on gold holdings.
The allocation to the provisions for currency reserves will be CHF 9.6 billion. After taking
into account the distribution reserve of CHF 102.5 billion, the net loss will be around CHF 39
billion. Pursuant to the provisions of the National Bank Act and the profit distribution
agreement between the Federal Department of Finance and the SNB, this net loss precludes a
distribution for the 2022 financial year. This affects both dividend payments to the SNB
shareholders and the profit distribution to the Confederation and the cantons.
The detailed report on the annual result with definitive figures will be released on 6 March
2023; the Annual Report will be published on 22 March 2023.says release.