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The Swiss National Bank (SNB) reported a loss of CHF 15.3bn in its half-year results this morning, ending 30 June 2025.
One of the most prominent reasons was the CHF 22.7bn loss on foreign currency positions, a weakening US dollar and CHF 6.4bn in price losses on equity securities and instruments.
A recorded loss of CHF 1bn was made on CHF-denominated positions. This was largely due to interest rates on sight deposit account balances. However, these are expected to decrease following recent interest rate cuts.
