The Latest Breaking News from SNB

What will the Federal Reserve and Bank of England do with benchmark interest rates in the wake of the banking crisis? Traditionally, controlling inflation has been the prime mandate of central banks.

LONDON/ZURICH: Shares in Credit Suisse dropped 64% after the market opened on Monday after rival UBS agreed at the weekend to take over the 167-year old bank for $3 billion.

Announcement comes after Zurich-based bank’s shares lost more than one-quarter of their value in a day.

Swiss bank’s shares fall to record low as top shareholder Saudi National Bank rules out more funding

Swiss citizens are likely to vote in a future referendum on whether to enshrine the availability of cash in the constitution.

Saudi National Bank, the Kingdom's biggest lender, said on Sunday its net profit in the third quarter rose 18.7% from the same period year before on higher operating income and lower net impairments for expected credit losses. SNB posted net profit of 4.725 billion riyals ($1.26 billion) in the quarter,…

Switzerland exited the era of negative interest rates on Thursday when its central bank joined others around the world in tightening monetary policy more aggressively to combat resurgent inflation.

Analysis: Interest rate cuts show central banks willing to plunge economies into recession to halt price rises

NEW DELHI/ZURICH: Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a sharp surge in holdings via securities and similar instruments while customer deposits rose…