UBS has surpassed the three percent reporting threshold in its stake in the Swiss National Bank (SNB), raising concerns about its potential influence on monetary policy, especially following its acquisition of Credit Suisse. While private shareholders, including UBS, hold about 22 percent of SNB's capital, their ability to affect monetary decisions is limited, as they cannot intervene in policy-making and are entitled only to fixed dividends. Experts express mixed views on the implications of UBS's stake, emphasizing the importance of maintaining the SNB's independence.
The Swiss National Bank (SNB) operates with a unique structure, where private individuals, including foreign investors like German businessman Theo Siegert, hold shares. Despite owning 5.01% of the SNB, Siegert cannot influence its monetary policy, reflecting the limitations placed on private shareholders. The SNB's mixed ownership, with cantons and cantonal banks holding the majority, ensures its independence while allowing for some private investment.
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