What Is the Swiss National Bank?

Swiss National Bank (SNB) The Central Bank of Switzerland is a joint stock bank created under the Federal Constitution of 1905. The amount of capital is 50 million Swiss francs, the paid-up capital is 25 million Swiss francs, most of the shares are held by the state government and state banks, and the remaining shares are held privately. Opened in 1907 in Bern, Basel, Geneva, Zurich, and St. Gallen. Most of the board of directors are appointed by the federal government and are accountable to the Bundestag.

Swiss National Bank

Swiss National Bank (SNB) The Central Bank of Switzerland is a joint stock bank created under the Federal Constitution of 1905. The amount of capital is 50 million Swiss francs, the paid-up capital is 25 million Swiss francs, most of the shares are held by the state government and state banks, and the remaining shares are held privately. 1907 in

The Central Bank of the Swiss Confederation is

After the federal constitution of 1848, only the federal government had the right to issue currency, but banknotes continued to be issued by private and state banks.

Until 1891, the sole right to issue banknotes was transferred from the state to the federation.

In 1905, Congress passed a motion that a limited company could establish an issuing bank.

On June 20, 1907, the Swiss National Bank was established. The Commonwealth delegates the monopoly on currency and banknote issuance to the Swiss National Bank. There is also a federal right to issue currency, and the federal government has this monopoly power. The Swiss National Bank has great independence in formulating monetary and exchange rate policies.

The Swiss National Bank's policy aim is to maintain price stability and ensure the country's prosperity and development.

The management bodies are the shareholders' meeting, the bank's board of directors, the management committee and the audit committee. In order to supervise and control the National Bank, the chairman, vice-chairman and 8 members of the board of directors of the bank set up a standing committee, which meets once a year to manage daily work.

Head office is located at

The Swiss National Bank (Central Bank) unexpectedly announced on January 15th, 2015 that it would cancel the upper limit of the exchange rate of the Swiss franc against the euro of 1.20 to 1, and the Swiss franc rose sharply. ^[1]