SNB stands for the Swiss National Bank, Switzerland’s central bank, and the sole issuer of Swiss francs. The SNB’s monetary policy focuses on price stability while keeping in mind economic developments. Its chairman is Swiss economist Thomas Jordan.
The Swiss National Bank has a reputation of neutrality due to Switzerland not participating in either World War and the country’s exclusion from the European Union; it has long been a stable banking environment for overseas investors because of the low financial risks and high privacy protected by Swiss law.
The bank also manages Switzerland’s gold reserves, one of the largest of any nation, stored mainly in vaults underneath the Federal Square in the capital city of Bern.
Who owns the Swiss National Bank?
The Swiss National Bank has mixed ownership. Swiss public entities including Switzerland’s 26 member states and their associated government-owned banks own about 78%. The rest of the bank’s shares are publicly traded on the SIX Swiss Exchange.