The Swiss National Bank (SNB) reported a loss of 142.4 billion francs ($142.2 billion) for the first nine months of this year as a stronger franc considerably lowered gains from equity and bond holdings.
This is the largest loss in the central bank’s 115-year history, with SNB crediting the loss to rising interest rates and a strong Swiss franc: the currency has gained more than 6.5 percent over the euro since the beginning of 2022. Foreign investments by SNB lost value when the value of the franc rose; but unlike other banks, the central bank does not face an issue of bankruptcy given its capacity to print money.
