Description: The Swiss National Bank on Monday reported a loss of 132 billion Swiss francs ($143 billion) for the 2022 financial year, citing preliminary figures. It represents the biggest loss in the central bank’s 116-year history and equates to roughly 18% of Switzerland’s projected gross domestic product of 744.5 billion Swiss francs. Its previous record loss was 23 billion francs in 2015.

Source: CNBC.com – video report

Date: Jan 09, 2023

Link: https://www.cnbc.com/2023/01/09/swiss-national-bank-posts-record-143-billion-loss.html

Questions for discussion:

• How did the bank lose money, according to the report?
• Was there any way, these losses could have been mitigated by management?
• How is this central bank similar but different from other banks?