The Federal Finance Department and the SNB occasionally agree on the procedures used to determine profit distribution. The last agreement is up for renewal. This is a chance to improve the procedure.

We reflect on the new summary of its deliberations that the SNB publishes.

We evaluate if and how the SNB could soften the blow, and whether it should.

With the recent reduction of the policy rate, the SNB has moved closer to zero or negative rates. Some argue that this was unwise; the SNB should have kept its gun powder dry to have more room for manoeuvre in the future. We ...]]> With the recent reduction of the policy rate, the SNB has moved closer to zero or negative rates. Some argue that this was unwise; the SNB should have kept its gun powder dry to have more room for manoeuvre in the future. We explain why we see little merit in this reasoning.ders to the SNB’s Governing Board.

Source

The public debate about the SNB is plagued by a number of misunderstandings.