Swiss National Bank flags 23 bln Sfr FY loss, still plans payout

January 8, 2016 6:42 AM

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ZURICH Jan 8 Switzerland's central bank said on Friday it expected to post a full-year 2015 loss of 23 billion Swiss francs ($23.06 billion) largely due to currency swings but still plans a payout to federal and local governments thanks to healthy cash reserves.

The franc's sharp appreciation against the euro in 2015 forced the Swiss National Bank (SNB) to take heavy losses on its euro holdings, which make up the bulk of its roughly 634 billion franc balance sheet.

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