Swiss National Bank Posted Record Loss in 2022 Due to Downturn in Financial Markets
The bank's losses resulted from a sharp fall in the U.S. Dollar, which affected the value of its foreign currency holdings.
After a downturn on financial markets, the Swiss National Bank suffered its biggest loss in 2022. This was due to a strain placed on its foreign-exchange holdings.
The loss reported by the Swiss central bank was 132.5 billion Swiss Francs ($141.57 Billion) for 2022. This is roughly in line with January's preliminary data and swinging from a CHF26.3 Billion profit in 2021.
This loss was caused by a decline in foreign-currency position values, which suffered a loss of CHF131.5 million, reflecting the fall in financial markets throughout the year.
This means that the SNB will not pay a payment to the Swiss state or regional cantons.