Swiss Central Bank (SNB) Reports A Loss Of 20b!

So much for solid Swiss banking!!! The SNB blew about 20b in the first half of last year in a futile effort to keep the Franc down. As seems to be usual now in these cases the government only reacted after the money was gone

The good news though was that their toxic asset fund actually made a profit of 2.6b. The fund consists mainly of US sub prime lending. So lets hope it's a good omen for NAMA

Jim.