The National Bank Act sets out regulations for the determination and distribution of profits. The profit distribution agreement between the Federal Department of Finance and the SNB governs the amount of the annual distributions to the Confederation and cantons over a certain period. You can access all reports, regulations and documents relevant to the SNB’s financial statements and profit here.
Balance sheet as at 31 December 2022
In CHF millions
Income statement and appropriation of profit for 2022
In CHF millions
Profit and distribution of profits
Art. 30 NBA contains a special provision governing the determination of profits, which stipulates that the SNB shall set up provisions permitting it to maintain the currency reserves at a level necessary for monetary policy. In so doing, it takes 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 is paid out from net profit. One-third of any net profit remaining after the distribution accrues to the Confederation and two-thirds to the cantons.
Publications on the profit distribution agreements
The Swiss Federal Department of Finance and the SNB agree on the annual amount of profit distribution to the Confederation and the cantons over a specified period of time with the aim of balancing these distributions in the medium term.
Profit distribution agreement for 2021
2016 profit distribution agreement
2011 profit distribution agreement
Quarterly interim results and quarterly balance sheet
Interim results of the Swiss National Bank as at 30 September 2023
Questions and answers on the annual financial statements and profit
The balance sheet is primarily a reflection of the SNB's monetary policy activities. It results from the execution of the SNB's mandate to ensure price stability while taking due account of economic developments. The operations conducted by the SNB in fulfilling its mandate affect the size and composition of its assets and liabilities, and can thereby exert a major influence on the development of the SNB's balance sheet.
Under the National Bank Act (NBA), the SNB is a special-statute joint-stock company. The provisions of the Code of Obligations relating to joint-stock companies also apply to the SNB, unless otherwise specified in the NBA. The SNB's annual financial statements consist of the income statement, the balance sheet and the notes. They are drawn up in accordance with the provisions of the Code of Obligations and generally accepted accounting principles while taking due account of the specific requirements of the SNB. The SNB must also comply with the regulations of the Swiss stock exchange, as its shares are listed there.
As a rule, the SNB's valuation principles are the same as those commonly applied by other listed companies (market value). The SNB reports assets and liabilities in Swiss francs. The accounting and valuation principles are outlined in detail in the Annual Report.
Yes. The SNB is required by the Federal Constitution to set aside sufficient currency reserves from its earnings. This requirement is outlined in greater detail in the NBA, which states that the SNB is obliged to set up provisions permitting it to maintain the currency reserves at a level necessary for monetary policy. In so doing, it must take into account economic developments in Switzerland (art. 30 para. 1 NBA).