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The Swiss National Bank (SNB) anticipates an annual profit of around CHF 80 billion for 2024, following a loss of CHF 3.2 billion in 2023. This profit allows for a CHF 3 billion distribution to the Confederation and cantons, alongside a dividend payment of CHF 15 per share. However, some economists express concern over the reliance on gold price increases and the undervaluation of the Swiss franc amid expansive monetary policies.
The Swiss National Bank (SNB) anticipates a net profit of around 80 billion francs for 2024, following a loss of 3.2 billion francs in 2023. This profit will enable a distribution of 3 billion francs to the Confederation and cantons, alongside a maximum dividend of 15 francs per share. Despite the positive outlook, economist Adriel Jost raised concerns about the implications of rising gold prices and the undervalued Swiss franc, suggesting the SNB's expansive monetary policy may be unwarranted amid increasing operating costs.
Adriel Jost critiques the recent PUK report on the Credit Suisse crisis, highlighting its failure to address key questions about the risks of major banks like UBS to Switzerland. He emphasizes the need for stronger capital requirements and collateral to reduce taxpayer exposure in future banking crises. Jost warns that the public liquidity backstop could create moral hazards, ultimately questioning how much risk Switzerland is willing to accept for its global banks.
Adriel Jost critiques the recent PUK report on the Credit Suisse crisis, highlighting its failure to address key questions about the risks of major banks like UBS to Switzerland. He emphasizes the need for stronger capital requirements and collateral to reduce taxpayer exposure in future banking crises. Jost warns that the public liquidity backstop could create moral hazards, urging a reevaluation of the too-big-to-fail framework.
Savings interest rates in Switzerland have dropped to an average of 0.52%, down from 0.8% at the end of 2023, as banks respond to falling prime rates. With a further cut expected in December, banks are quickly lowering rates, taking advantage of customer inertia. Despite low averages, some accounts still offer competitive rates, highlighting the importance of comparing options.
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