• Search
  • Contact
    • DE
    • FR
    • EN
    • IT
  • Information about
    • The SNB
      • Goals and responsibilities of the SNB
      • Structure and organisation
        • The SNB as a joint-stock company
        • Independence, accountability and relationship with the Confederation
        • Organisation
        • Organisational chart
        • Environmental management
        • Q+A Independence and relationship with the Confederation
      • Supervisory and executive bodies
        • Bank Council
        • Governing Board
        • Enlarged Governing Board
        • Bank management
      • Annual financial statements and profit
        • Balance sheet
        • Income statement
        • Profit and distribution of profits
        • Interim results
        • Q+A The SNB's balance sheet
        • Q+A Equity capital and profit appropriation
      • Legal basis
        • Constitution and laws
        • Guidelines and regulations
        • Documentation
      • SNB regional network
        • Tasks, Organisation
        • Publications
        • Regions
        • Regional Economic Councils
        • Q+A SNB regional network
      • History
        • Introduction
        • Chronicle of monetary events
        • Short biographies
          • Presidents of the SNB Bank Council
          • Members of the Governing Board
          • List of sources
        • Publications
          • Commemorative publications
          • The Swiss franc - a success story
          • Bibliography
          • Gold transactions during World War II
          • Speeches and papers
          • Historical time series
        • SNB's centenary
        • 100th anniversary of SNB's building in Berne
        • Information on the archives
      • Addresses
        • Addresses - head offices and representative offices
        • SNB library
        • Study Center Gerzensee
      • Q+A The SNB as a company
    • Monetary policy
      • Monetary policy by year
      • Monetary policy strategy
      • Monetary policy instruments
      • Monetary statistics
        • Overview
        • SNB target range
        • Monetary aggregates
      • Q+A Monetary policy strategy
      • Q+A Monetary policy implementation
    • Investment of assets
      • Investment and risk control process
      • Asset structure
      • Foreign exchange reserves and Swiss franc bond investments
      • Investment risk profile
      • Investment performance
      • Q+A Asset management
    • Financial stability
      • Banking sector
      • Oversight of financial market infrastructure
        • Oversight
        • Financial market infrastructure
      • Publications
        • Banking sector
        • Financial Market Infrastructure
      • Q+A Financial stability
    • Payment transactions
      • Further information
        • Overview
        • Swiss Interbank Clearing (SIC)
        • Survey on payment methods
      • Business operations
        • Overview
        • Register of sight deposit accounts
    • Banknotes and coins
      • New banknote series
        • The new notes
        • Design
          • Overview
          • Design elements
          • 10-franc note
          • 20-franc note
          • 50-franc note
          • 100-franc note
          • 200-franc note
          • 1000-franc note
        • Security concept
        • Downloads
        • Project
          • Overview
          • Result
      • Eighth banknote series
        • Design
          • Banknotes
          • 10-franc note
          • 20-franc note
          • 50-franc note
          • 100-franc note
          • 200-franc note
          • 1000-franc note
        • Security concept
        • Invalid Swiss 1000-franc banknotes
        • Downloads
      • All banknote series
        • Overview
        • First banknote series, 1907
        • Second banknote series, 1911
        • Third banknote series, 1918
        • Fourth banknote series, 1938
        • Fifth banknote series, 1956
        • Sixth banknote series, 1976
        • Seventh banknote series, 1984
        • Eighth banknote series, 1995
        • Ninth banknote series, 2016
      • Life cycle
        • Overview
        • Requirements
        • Development
        • Production
        • Issuance and return
        • Sorting and destruction
        • Costs
        • Environmental impact assessment
      • Banknote circulation
      • Reproduction of banknotes
      • Damaged banknotes
      • Coins
      • Instruction sheets on banknotes and coins
      • Survey on payment methods
      • Q+A Banknotes
      • Q+A Coins
    • Statistics
      • Statistical publications: overview
      • SNB data portal
      • Reports and press releases
        • Interest rates and foreign exchange rates (current)
        • Important monetary policy data
        • IMF Special Data Dissemination Standard (SNB Data)
        • Banks in Switzerland
        • Swiss Financial Accounts
        • Swiss Balance of Payments and International Investment Position
        • Direct Investment
        • Foreign exchange and derivatives markets
        • Discontinued publications
          • Monthly Statistical Bulletin
          • Monthly Bulletin of Banking Statistics
          • Household Wealth
          • Swiss Balance of Payments
          • Switzerland’s International Investment Position
          • Historical time series
      • Surveys
        • Latest survey updates
        • Survey documents
        • Information on reporting
        • Delivery formats
        • Transmission of data files
        • Contacts
    • Publications
      • Annual Report
      • Speeches
      • Economic publications
        • Quarterly Bulletin
          • Quarterly Bulletin (from 1998 on)
          • Predecessor publications
        • Financial Stability Report
        • SNB Economic Studies
        • SNB Working Papers
      • Statistical publications
      • Publications about the SNB
        • The Swiss National Bank in brief
        • Our National Bank
        • SNB film
        • Environmental management
      • Iconomix - discovering economics
      • Ordering publications
    • International
      • International monetary cooperation
        • Bank for International Settlements
        • Financial Stability Board
        • International Monetary Fund
      • SNB technical assistance
        • Approach
        • Examples
        • Seminars
        • Study Center Gerzensee
  • Information for
    • Media
      • New on the website
      • SNB News Alert
      • RSS and Calendar Feeds
      • Press releases
      • Speeches
      • Web TV
      • CVs
        • Governing Board
        • Enlarged Governing Board
        • Bank Council
      • Photos
        • Enlarged Governing Board
        • Buildings
        • SNB's centenary
      • Downloads banknotes
      • Dossiers
        • Sovereign money initiative
        • Survey on payment methods
        • New banknotes project
          • Overview
          • Result
        • Gold initiative
        • 100th anniversary of SNB's building in Berne
        • SNB's centenary
        • Cosa initiative
      • Time schedule
      • Information for the media
    • Financial markets
      • Monetary policy operations
        • Monetary policy instruments
        • Repos
          • Guidelines and instruction sheets
          • Circular letters
        • Collateral eligible for SNB repos
          • Baskets
          • Search list
          • Search modifications
        • Important monetary policy data
          • Archive
        • SNB Bills
        • SNB USD Bills
        • Foreign exchange swap
        • Negative interest
        • Test operations
        • Q+A Monetary policy implementation
        • Q+A Repo transactions and other monetary policy instruments
        • Q+A Foreign exchange swaps
      • Primary market for Swiss Confederation bonds
        • Services on behalf of the Confederation
        • Federal bond issues
        • Money market debt register claims
      • Swiss Reference Rates
      • US dollar auctions
      • Events
        • Overview
      • NWG on Swiss Franc Reference Rates
        • Overview
        • Documents
        • Milestones
    • Research
      • Karl Brunner Lecture Series
      • Research TV
      • Academic conferences
        • SNB Research Conference
        • Joint Central Bank Conference
        • BuBa-OeNB-SNB Workshop
        • NBP-SNB Joint Seminar
        • Other academic conferences
      • SNB Research Report
      • SNB Quarterly Bulletin Studies
      • SNB Economic Studies
      • SNB Working Papers
    • Careers
      • The SNB as an employer
      • Staff development
      • Vacancies
      • Internships
        • General information
        • Staff portraits
        • Internship vacancies
        • Student graduate fairs
      • Apprenticeships
        • General information
        • Apprenticeship profiles
        • Apprenticeship vacancies
    • Shareholders
      • General Meeting of Shareholders
        • Deadlines and participation
        • Speeches
        • Decisions
      • Share capital and dividend
        • Overview
        • Taxable value
      • Provisions on joint-stock companies
      • About SNB shares
      • Ad hoc announcements - messaging service
    • General public
      • Publications about the SNB
        • The Swiss National Bank in brief
        • Our National Bank
        • SNB film
        • Environmental management
      • Questions and answers
        • Q+A Banknotes
        • Q+A Coins
        • Q+A The SNB as a company
        • Q+A Independence and relationship with the Confederation
        • Q+A Monetary policy strategy
        • Q+A Monetary policy implementation
        • Q+A Repo transactions and other monetary policy instruments
        • Q+A Foreign exchange swaps
        • Q+A The SNB's balance sheet
        • Q+A Equity capital and profit appropriation
        • Q+A Asset management
        • Q+A Financial stability
        • Q+A SNB regional network
      • Iconomix – discovering economics
      • Service
        • Addresses - head offices and representative offices
        • SNB library
        • Ordering publications
  • Glossary
  • Sitemap
  • Copyright
  • Limitation of liability
  • Data protection
  • Fraudulent e-mails
© Swiss National Bank, Zurich (Switzerland) 2018