According to provisional calculations by the Swiss National Bank
- loss on gold holdings around CHF 15 bln, 28% of total value
- CHF 3m profit on FX operations
- CHF 3m profit from the sale of the stabilization fund set up 5 years ago to bail out UBS
- says annual loss precludes profit distribution
The loss carries some political implications as the SNB can not distribute dividends to its biggest shareholders being the 28 Swiss cantons( states) and federal govt.
SNB press release here
USDCHF and EURCHF unchanged at 0.9052 and 1.2301
