Arab Today, arab today swiss national bank reported 22 billion profit in q1 2011
Last Updated : GMT 20:24:30
Arab Today, arab today
Arab Today, arab today

Swiss National Bank reported 2.2 billion profit in Q1 2011

Arab Today, arab today

Arab Today, arab today Swiss National Bank reported 2.2 billion profit in Q1 2011

GENEVA - Arabstoday

The Swiss National Bank (SNB) is reporting a consolidated profit of USD 2.2 billion for the first quarter of 2011. For the first three months of the year, the net result from foreign currency positions amounted to USD 1.8 billion, while a net loss of 121.45 million was recorded on Swiss franc positions. Movements in the gold price did not significantly influence the consolidated result. The stabilization fund contributed USD 387 million to the favorable quarterly result. The SNB result depends largely on developments in the gold, foreign exchange and capital markets. Consequently, strong fluctuations are normal and it is only possible to make provisional conclusions with regard to the annual result. The net result from foreign currency positions amounted to USD 1.8 billion. In the first quarter of 2011, the Swiss franc depreciated against the European currencies, leading to exchange rate gains, especially on euro holdings. Depreciation in the US dollar and the yen, however, meant that the overall exchange rate gain amounted to USD 2.75 billion. A slight rise in interest rates depressed prices of interest-bearing instruments by USD 3.3 billion. Interest income on these securities of USD 1.6 billion and price gains on equity securities of USD 0.69 billion were not sufficient to offset the fall in prices. The SNB still holds 1,040 tons of gold in the form of currency reserves and was worth only slightly more at the end of March than at the end of December 2010, and the net result from gold, at USD 13.2 million, was consequently low. The SNB absorbs excess liquidity using repo transactions and its own debt certificates (SNB Bills), which result in interest expenses. Since there were also price losses recorded on Swiss franc securities, there was a net loss of USD 120.3 million on Swiss franc positions. In the first quarter of 2011, the SNB loan to the stabilization fund was further reduced, from USD 13.5 billion to USD 11.3 billion, and the overall risk decreased from almost USD 16 billion to less than USD 13.7 billion. The stabilization fund showed a quarterly profit of USD 678 million, representing a contribution of USD 387 million to the consolidated result.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swiss national bank reported 22 billion profit in q1 2011 Arab Today, arab today swiss national bank reported 22 billion profit in q1 2011

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swiss national bank reported 22 billion profit in q1 2011 Arab Today, arab today swiss national bank reported 22 billion profit in q1 2011

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday