ZURICH—The Swiss National Bank reported a first-half loss of 95.2 billion Swiss francs ($100.08 billion) on Friday, the biggest six-month loss since the central bank was founded in 1907.
Stock market declines, falling bond prices, and the franc’s appreciation severely dented the value of its massive foreign currency holdings.
The SNB reported a second-quarter loss of 62.4 billion francs, also its worst ever quarterly performance.
“The loss is historic, but most of it is an unrealised paper loss relating to lower valuations of bonds and shares,” said Credit Suisse economist Maxime Botteron, who said the result was unlikely to be a worry for the SNB….