ZURICH (Reuters) - The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($142.67 billion) in 2022, it said on Monday, the biggest loss in its 115-year history.
The central bank plunged into the red as falling stock and fixed-income markets hit the value of its share and bond portfolio, while the appreciation of the Swiss franc also had a negative impact.
Monday’s figure, which marked a reverse from a 26 billion franc profit in 2021, was bigger than the previously biggest loss of 23 billion francs chalked up in 2015. It is equivalent to slightly more than the annual GDP of Morocco.
The SNB will release detailed annual figures on March 6.
It made a loss of 131 billion francs from its foreign currency positions - the more than 800 billion francs in stocks and bonds it bought during a long campaign to weaken the Swiss franc.
Global stock markets weakened and bond prices fell last year as central banks around the world, including the SNB, hiked interest rates to combat inflation.
The strong Swiss franc - it rose above parity versus against the euro in July - led to exchange rate-related losses.