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Home / Information about / Publications / Annual report
Annual Report 2003
Complete Annual ReportComplete Annual Report [581 kb]
PrefacePreface [50 kb]
Review of economic developmentsReview of economic developments [205 kb]
 1.
International developments
 1.1.
Economic development
 1.2.
Monetary policy
 1.3.
Fiscal policy
 1.4.
Foreign exchange markets
 1.5.
Capital and credit markets
 1.6.
Banks and other financial institutions
 2.
Switzerland
 2.1.
Economic development
 2.2.
Fiscal policy
 2.3.
Capital and credit markets
 2.4.
Banks and other financial institutions

Monetary policy of the Swiss National BankMonetary policy of the Swiss National Bank [135 kb]
 1.
Concept
 2.
Implementation

Legal frameworkLegal framework [58 kb]
 1.
Total revision of the National Bank Law
 2.
Message concerning the Federal Law on international monetary aid
 3.
Appropriation of 1,300 tonnes of National Bank gold - new constitution basis
 4.
Supplementary agreement on the distribution of income from the SNB's free assets

Other central bank functionsOther central bank functions [172 kb]
 1.
Investment of assets
 1.1.
Basis
 1.2.
Monetary foreign exchange reserves
 1.3.
Swiss franc bonds
 1.4.
Gold lending
 1.5.
Free assets
 1.6.
Risk control and overall performance
 2.
Payment transactions
 2.1.
Basis
 2.2.
Cashless payment transactions
 2.3.
Provision of currency
 3.
Services on behalf of the Confederation
 4.
Cooperation with federal agencies
 4.1.
Integrated financial market supervision
 4.2.
Reform of the securities law
 4.3.
Cooperation with the Federal Banking Commission
 5.
International cooperation
 5.1.
Participation in the International Monetary Fund
 5.2.
Participation in the Group of Ten
 5.3.
Cooperation with the Bank for International Settlements
 5.4.
Balance of payments support
 5.5.
Technical assistance
 5.6.
Study Center Gerzensee
 6.
Stability and oversight of the financial system
 7.
Statistics
 7.1.
Basis
 7.2.
Statistical publications
 7.3.
Banking statistics committee
 7.4.
Balance of payments: group of experts
 7.5.
Collaboration with domestic and foreign agencies

Structure and organisation of the National BankStructure and organisation of the National Bank [134 kb]
 1.
Information for shareholders
 2.
Organisation
 3.
Staff and resources
 4.
Changes in the supervisory authorities and staff

Financial reportFinancial report [130 kb]
 1.
Income statement for the year 2003
 2.
Balance sheet as of 31 December 2003
 3.
Notes to the accounts as of 31 December 2003
 3.1.
Explanatory notes on business activities
 3.2.
Accounting and valuation principles
 3.3.
Notes to the income statement and balance sheet
 3.4.
Notes regarding off-balance-sheet business
 4.
Proposals of the Bank Council to the Annual General Meeting of Shareholders
 5.
Report of the Auditing Committee to the Annual General Meeting of Shareholders

Chronicle and press releases on monetary policyChronicle and press releases on monetary policy [55 kb]
 1.
Chronicle
 2.
Press releases on monetary policy

Miscellaneous informationMiscellaneous information [80 kb]
 1.
Supervisory and executive bodies
 2.
Organisation Chart
 3.
Publications
 4.
Adresses of the head offices and branches