swiss central bank chief quits
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

Swiss central bank chief quits

Arab Today, arab today

Arab Today, arab today Swiss central bank chief quits

Beijing - Xinhua

After days of saying he wouldn\'t, the chairman of the Swiss National Bank resigned abruptly on Monday. Philipp Hildebrand was brought low by a swirling controversy over foreign exchange transactions that made tens of thousands of dollars for him and his wife. Hilde-brand said he could not prove he had been unaware of a currency trade made by his wife and wanted to protect the integrity of the central bank. Swiss central bank chief Philipp Hildebrand has quit his post, despite vowing to stay just days ago, in the face of growing criticism over a controversial currency trade made by his wife. Philipp Hildebrand said: \"Conscious as I am of the challenges currently facing our country and given my responsibility for my office and for the SNB as an institution, I have therefore decided to relinquish my post with immediate effect\". Hildebrand’s wife Kashya - a former trader who now runs a Zurich art gallery - bought 400,000 Swiss Francs worth of dollars from Sarasin Bank three weeks before her husband oversaw steps to cap the rise of the franc. A former bank employee was accused of leaking the data. He’s now reported to be receiving psychiatric help after attempting suicide. Phillipp Hildebrand stepped down just hours after senior Swiss National Bank officials arrived to question him about the transaction. Philipp Hildebrand said: \"I have come to the conclusion that is not possible to provide conclusive and final evidence that my wife did indeed initiate the foreign exchange transaction on the 15th of August without my knowledge. The fact is my word is my bond, I had no knowledge of my wife’s transaction on that day. Unfortunately mistakes were made in connection with these transactions, I detailed these on Thursday and I apologized for them. I deeply regret these mistakes as well as the entire situation\". The scandal has raised questions about transparency at the central bank. It initially failed to publish its internal ethics codes saying auditors had found no misuse of prigged information. The Swiss parliament will now consider whether the National Bank should tighten its rules. The Swiss franc rose after Hildebrand’s resignation.

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*

swiss central bank chief quits swiss central bank chief quits

 



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*

swiss central bank chief quits swiss central bank chief quits

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 01:41 2017 Saturday ,12 August

Moroccan video sparks debate on sexual harassment
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