# Swiss National Bank posts $15 billion loss during second quarter
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-07-31
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Swiss National Bank Q2 loss of $15 billion due to interest
Meta Description: Find out why the Swiss National Bank reported a loss of 13.20 billion Swiss francs in Q2, impacting its bond and gold holdings.
URL: https://financedigest.com/swiss-national-bank-posts-15-billion-loss-during-second-quarterhtml

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# Swiss National Bank posts $15 billion loss during second quarter

ZURICH (Reuters) – The Swiss National Bank posted a second quarter loss of 13.20 billion Swiss francs ($15.14 billion), it said on Monday, as interest rate hikes by other central banks dented the value of its massive bond holdings.

The SNB lost 8.08 billion francs on its foreign currency positions of 742 billion francs, as bond prices fell as investors feared more interest rate hikes by the U.S. Federal Reserve, European [Central Bank](https://www.financedigest.com/limited-support-for-central-bank-digital-currencies-in-global-investment-industry-survey.html "Limited support for central bank digital currencies in global investment industry survey") and others.

The Swiss central bank also lost 3.14 billion francs on its gold [holdings in the three months](https://www.financedigest.com/oil-holds-steady-near-four-month-high-on-opec-cuts.html "Oil holds steady near four-month high on OPEC+ cuts") to the end of June, as the lower gold price cut the value of the 1,040 tonnes of the precious metal it holds.

($1 = 0.8716 Swiss francs)

(Reporting by John Revill, Editing by Rachel More)


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