The SNB Keeps Its Hands on the Payment of Its Profits

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The Swiss National Bank has defended its prudent policy of distribution of profits, consenting only to a minor change. The cantons, after demanding more stability, have finally adapted their budget management to this volatilityAfter months of discussions, the SNB and the Federal Department of Finance have given birth to an agreement that changes the distribution mechanism at the margin, as announced last week. The new agreement, which will apply…