Swiss central bank books record loss of 50 billion francs

The decision to scrap the limit sent the franc -- a refuge currency -- soaring in value against major currencies and unleashed turbulence on global markets.

Swiss banks' profit rises; staff count down

Swiss banks' profit rises; staff count down

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

Swiss banks' profit rises; staff count down

Swiss banks' profit rises; staff count down

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

Swiss central bank posts massive loss on soaring franc

The Swiss central bank said Thursday it had posted loss of 30 billion francs in the first quarter due to a jump in the franc`s value which led to huge exchange rate-related losses.

SNB says spent $27 billion to defend franc before dropping peg

The Swiss National Bank (SNB) spent 25.8 billion Swiss francs ($26.91 billion) defending the currency late last year before abandoning its peg as too costly for the country`s economy, it said on Thursday.

Swiss central bank under scrutiny after franc shock

Six weeks after a fateful decision that blasted its currency skywards, Switzerland`s central bank is coming under intense scrutiny, with critics calling for changes to its insular policy practices and century-old ownership structure.

Credit Suisse board takes 25 pct pay cut after U.S. tax fine

Board members of Credit Suisse are taking a 25 percent pay cut and bonuses for top staff are being slashed after a hefty fine from U.S. authorities, the bank said as it also set out a range of measures to tackle the surge in the Swiss franc.

Swiss central bank defends franc move despite turbulence

Switzerland`s central bank on Saturday stood by its shock decision to let the franc soar, insisting the subsequent turbulence rocking global markets and the Swiss economy since the move would eventually subside.

Asia shares wobble; Swiss move heightens volatility

MSCI`s broadest index of Asia-Pacific shares outside Japan edged down about 0.1 percent in early trade.

Switzerland ends euro minimum exchange rate, cuts interest rate

In a shock announcement Thursday, Switzerland`s central bank said it was ending a three-year bid to artificially hold down the value of the Swiss franc against the euro, in a move that immediately sent the safe haven currency soaring.

Swiss national bank introduces negative interest rates

The Swiss National Bank on Thursday said it would introduce a negative exchange rate of -0.25 percent on sight deposit account balances at the central bank as it seeks to deter safe-haven buying.

Swiss bank holds key rate but warns of deflation risk

Switzerland`s central bank held its key lending rate on Thursday but revised downwards its forecast for prices, warning that "deflation risks have increased once again".

Proposal on gold reserves rejected in Swiss referendum

Swiss voters on Sunday flatly rejected in a referendum a proposal stipulating the central bank in Switzerland to increase its gold reserves.

Gold price holds below $1,200; dollar, Swiss vote eyed

Gold steadied below $1,200 an ounce on Tuesday after small losses in the previous session, while traders eyed the dollar and an upcoming Swiss referendum on central bank gold reserves for more trading cues.

Swiss central bank lowers growth outlook, holds key rate

The Swiss National Bank (SNB) maintained its target range for the franc`s three-month London interbank offered rate, known as the Libor rate, at between 0.0 and 0.25 percent.

India asks Switzerland to ratify global tax convention

India has asked Switzerland to expeditiously ratify the OECD convention on automatic exchange of tax information, a move which will help deal with menace of black money.

Swiss central bank leaves key rates unchanged

Switzerland`s central bank on Thursday kept its key interest rate unchanged and restated its longstanding pledge to prevent the Swiss franc from gaining too much value.

Swiss central bank hard hit by gold price fall

Switzerland's central bank said on Monday that it lost billions in 2013 amid a sharp drop in gold prices and that it therefore would not pay dividends to Bern or the Swiss cantons.

Swiss banks' Holocaust fund paid out $1.24 billion: Report

The Swiss-Jewish weekly Tachles said the figure was contained in a report by New York judge Edward Korman, who oversees the management of the fund.

Swiss money: India slips to 70th position; UK on top

India has slipped to 70th position in terms of foreign money lying with the Swiss banks and accounts for a meagre 0.10 percent of total global wealth held in the Switzerland banking system.