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Profit and distribution of profits

The National Bank Act contains a special provision governing the determination of profits (art. 30): the National Bank shall set up provisions permitting it to maintain the currency reserves at a level necessary for monetary policy. In so doing, it shall take into account the development of the Swiss economy.

The distribution of profits is regulated as follows (art. 31): a dividend not exceeding six percent of the share capital shall be paid from the net profit. One-third of any net profit remaining after the distribution shall accrue to the Confederation and two-thirds to the cantons.

Federal Act on the Swiss National Bank (National Bank Act)
 
Ordinance on the distribution of the Swiss National Bank's net profit accruing to the cantons
German
French

The Swiss Federal Department of Finance and the SNB shall, for a specified period of time, agree on the amount of the annual profit distribution to the Confederation and the cantons with the aim of balancing these distributions in the medium term. The currently valid agreement on the distribution of the SNB's profits (concluded in 2016) provides that an annual amount of CHF 1 billion will be distributed to the Confederation and the cantons for the financial years 2016 to 2020, provided that the distribution reserve is not negative after appropriation of profit.

Press release of 10 November 2016: FDF and SNB enter into new profit distribution agreement
 
PDF (55 kB)
Agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank on the distribution of the Swiss National Bank’s profits
 
PDF (88 kB)
Notes on the profit distribution agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank for the period 2016-2020
 
PDF (70 kB)

Agreement regarding the distribution of profits for 2011 to 2015

Press release of 21 November: New agreement on the distribution of the SNB profit
 
PDF (63 kB)
Agreement between the Federal Department of Finance and the Swiss National Bank regarding the distribution of Swiss National Bank profits
German
French
PDF (119 kB) 
PDF (118 kB) 
Notes on the new profit distribution agreement of 21 November 2011 between the Federal Department of Finance and the Swiss National Bank
German
French
PDF (151 kB)
PDF (145 kB)