• Overshoot of franc would threaten existence of basically sound countries

Not sure what they can do about it, however, seeing as they are saddled with massive losses on their failed intervention.

The SNB remains a rumored buyer of USD/CHF on dips around 0.9400, most likely legging out of some of the EUR/CHF it bought during its “quantitative ease by other means” (selling CHF) policy from last year.