Swiss National Bank

About Swiss National Bank

Founded in 1907, the Swiss National Bank conducts monetary policy for Switzerland. The SNB maintained the Swiss franc as a safe haven currency. The franc appreciated during every major crisis as investors sought safety. In 2011, the SNB imposed a floor of 1.20 francs per euro to prevent excessive appreciation. When the SNB unexpectedly removed the floor in January 2015, the franc soared 30 percent in minutes, causing massive losses for currency brokers and hedge funds. The SNB invests heavily in foreign equities, holding over 800 billion in stocks including major US tech companies. The SNB is one of the few central banks whose shares are publicly traded.