Swiss National Bank

What Swiss National Bank does

The Swiss National Bank (SNB/BNS) is Switzerland's independent central bank, established in 1907 and headquartered in Zurich with offices in Bern and a regional branch in Singapore. It conducts monetary policy with a statutory price stability mandate (0-2% inflation target), currently maintaining a policy rate of 0% as of June 2026, and oversees the issuance and distribution of Swiss franc banknotes and coins. The SNB manages substantial foreign currency reserves exceeding CHF 800 billion and gold reserves of 1,040 tonnes, generating returns that produced an annual profit of CHF 26.1 billion in 2025, primarily from gold valuation gains. Its core counterparties are Swiss commercial banks (settlement, sight deposits, liquidity support), the Swiss Federal Government (treasury services), and international institutions including the BIS and IMF.

The SNB operates advanced financial market infrastructure, including the SCION-based Swiss Finance Network processing approximately CHF 220 billion in daily interbank clearing since November 2021, Project Helvetia III (a wholesale CBDC pilot supporting 750 million CHF in digital bond issuances across six banks including UBS and Commerzbank), and participation in BIS Project Agorá for tokenized cross-border payments. It provides public-facing digital services (SNB Data Portal, Iconomix educational platform, Web TV, Moneyverse exhibition, SNB Forum) and is developing the Extended Liquidity Facility (ELF) for implementation in early 2027. The bank does not charge fees for core monetary policy services; interest on sight deposits is governed by the policy rate framework (0% currently, with a 0.25 percentage point discount above threshold).

The SNB's business model centers on monetary policy implementation, reserve management, and financial stability oversight rather than commercial revenue generation. It operates under a joint-stock company structure with private shareholders receiving dividends, while functioning as a public institution with constitutional independence. International cooperation is maintained through bilateral currency swap arrangements (including a renewed CHF 10 billion facility with the Bank of Korea through 2031), BIS Board membership (Chairman Martin Schlegel), and IMF governance (Schlegel serves as Switzerland's Governor). Leadership transitioned in October 2024 with Martin Schlegel assuming the Chairmanship of the Governing Board, with a planned Chief Economist succession from Carlos Lenz to Martin Brown at year-end 2026.

Name

Swiss National Bank

Legal name

Swiss National Bank

Website

https://snb.ch

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Swiss National Bank is Switzerland's independent central bank, conducting monetary policy, managing over CHF 800 billion in foreign currency reserves, and providing payment infrastructure and financial stability oversight to Swiss commercial banks, the federal government, and international institutions.

Ownership category

akta.pro rank

Product category

Central Banking

NAICS

Monetary Authorities-Central Bank (521)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Central Bank Reserve Management (FSAAAGAF)

akta.pro secondary industries

International Monetary & Financial Stability Institutions (BPADACAE), State/Provincial Treasury, Budget & Fiscal Management (BPAIABAC)

Keywords

• Monetary policy implementation
• Central banking services
• Foreign reserve management
• Payment systems infrastructure
• Financial stability oversight

Headquarters

HQ city

Zürich

HQ country

Switzerland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Investment Returns on Foreign Currency Reserves: The SNB generates returns through investment of its substantial foreign currency reserves, gold holdings, and other assets. Reported CHF 26.1 billion annual profit for 2025, primarily from gold price gains offset partially by FX losses.
2. Seigniorage: Revenue derived from issuing banknotes and coins, representing the difference between the face value of currency and the cost of production.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

The Swiss National Bank conducts Swiss monetary policy with a price stability mandate (0-2% inflation target), issues Swiss franc banknotes and coins, manages foreign currency reserves exceeding CHF 800 billion and 1,040 tonnes of gold, operates interbank payment settlement infrastructure, and provides banking services to the Swiss Confederation. It also oversees financial system stability, compiles economic statistics, and participates in international monetary cooperation through the BIS and IMF.

Product overview

The Swiss National Bank operates as Switzerland's central bank, offering a unified portfolio of monetary policy, financial stability, and public information services. Core offerings include monetary policy implementation, cash supply and distribution, payment transaction infrastructure, and asset management. Digital services include the SNB Data Portal for statistical data access, Moneyverse exhibition for public education, Iconomix educational platform, Web TV for broadcasts, and the SNB Forum visitor center. The SNB also conducts Project Helvetia III wholesale CBDC pilot and provides the Extended Liquidity Facility (ELF) for banking system stability. These products and services serve monetary policy objectives, financial market participants, and public education rather than commercial customers.

Differentiator

Problem solved

Functional benefit

Products and services

• SNB Data Portal Online data portal providing extensive data on monetary policy and the Swiss economy, allowing users to explore and access statistical information including interest rates, exchange rates, and economic indicators.
• Moneyverse Interactive, multimedia exhibition at the SNB exploring the phenomenon of money and its role in society throughout history, open to the public as an educational experience.
• Iconomix Digital educational resource provided by the SNB for learning about economics and monetary policy, designed for students, teachers, and the general public.
• Project Helvetia III Wholesale central bank digital currency pilot program for institutional settlement, supporting digital bond issuances. Extended wholesale CBDC pilot involving six banks including UBS and Commerzbank, supporting six digital bond issuances totaling 750 million Swiss francs.
• SNB Forum Information and events center in Zurich hosting exhibitions and events providing facts and insights into the world of the Swiss National Bank.
• SNB Library Research library and archive services for economic and financial research, providing access to historical SNB publications and economic literature.
• Web TV / Research TV Live and recorded video content provided by the SNB, including speeches, colloquia, news conferences, and research presentations.
• SNB News Alert Email-based news alert service for receiving SNB announcements and publications, enabling subscribers to stay informed about monetary policy decisions and publications.
• Extended Liquidity Facility (ELF)

Quantifiable outcome

• Price stability maintained with inflation at 0.6% (May 2026), within 0-2% target range
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• UBSflagshipTechnology or Integration · 24 June 2026UBS participated in Project Helvetia III wholesale CBDC pilot, supporting digital bond issuances totaling 750 million Swiss francs.
• CommerzbankflagshipTechnology or Integration · 24 June 2026Commerzbank participated in Project Helvetia III wholesale CBDC pilot, supporting digital bond issuances.
• Bank for International Settlements (BIS)coreStrategic or Co-development Partner · 18 June 2026SNB participates actively in BIS as a member and Martin Schlegel serves as a member of the Board of Directors of the BIS. The SNB co-organizes high-level conferences including the SNB-FRB-BIS High-Level Conference on GRUV.
• International Monetary Fund (IMF)coreStrategic or Co-development Partner · 18 June 2026Martin Schlegel serves as Governor of the IMF for Switzerland. SNB participates in IMF assessments of Switzerland and international monetary cooperation.
• BIS Project Agorá ParticipantsflagshipTechnology or Integration · 28 May 2026Seven central banks and more than 40 regulated financial institutions collaborated on Project Agorá, a two-year experimental prototype demonstrating tokenized cross-border wholesale payments using atomic settlement with tokenized central bank reserves.
• IMF and Central Bank Conference ParticipantsminorStrategic or Co-development Partner · 19 May 2026SNB co-organized panel discussions with IMF and RBI on supply shocks and inflation monitoring, hosted at SNB facilities in Switzerland.
• Bank of KoreacoreStrategic or Co-development Partner · 1 March 2026Renewed bilateral currency swap agreement providing mutual financial support of up to 18.5 trillion Korean won (approximately 10 billion Swiss francs). The agreement runs from March 2026 through March 2031, representing the third extension of the framework first established in 2018.
• Hong Kong Monetary AuthorityminorStrategic or Co-development Partner · 2 February 2026Eighth Hong Kong-Switzerland Financial Dialogue held in Bern covering sustainable finance, FinTech standards, digital assets, and market connectivity. Private sector seminar co-hosted with Swiss Bankers Association.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Federal Reserve System: The Fed is the global reserve-currency central bank and a co-organizer with the SNB and BIS of the SNB-FRB-BIS High-Level Conference on GRUV. Comparable in mandate (dual mandate, financial stability), reserve management scale, and as the dominant issuer whose securities dominate SNB's foreign currency portfolio.
• Riksbank (Sweden): Riksbank is the most structurally analogous small advanced-economy central bank: similar inflation-targeting framework, similar FX and gold exposure history, and similar e-krona wholesale CBDC pilot trajectory. Closest sized-economy peer for benchmarking.
• Bank for International Settlements: BIS is the primary international forum for central banks and the project lead on Project Agorá, in which the SNB participates. The SNB's Chairman serves on the BIS Board, making it a tightly coupled peer across monetary research, Basel-process coordination, and CBDC experimentation.
• Hong Kong Monetary Authority: HKMA operates as a de facto central bank for an open, FX-peg economy with active reserve management and a strong CBDC track record (e-HKD pilots). Direct counterparty through the recurring Hong Kong–Switzerland Financial Dialogue co-hosted with the Swiss Bankers Association.
• European Central Bank: The ECB is the most structurally comparable central bank to the SNB: a continental-scale independent monetary authority with a multi-country mandate, FX operations, and a leadership role in cross-border payment and CBDC initiatives (digital euro project). Direct counterpart on monetary cooperation and a co-participant in Project Agorá.
• Bank of Japan: BoJ is a peer large-balance-sheet central bank with extensive FX intervention capacity, similar to the SNB's intervention-led toolkit. Relevant comparison for policy normalization, yield-curve control lessons, and JPY/CHF safe-haven dynamics.
• Bank of England: BoE is a peer independent central bank managing reserves, conducting monetary policy, and exploring a digital pound. Comparable in governance structure (independent with public accountability), reserve scale, and engagement with BIS-led innovation programs.
• Bank of Canada: BoC is a peer inflation-targeting advanced-economy central bank and Project Agorá co-participant. Comparable on CBDC research (eCAD/CAD-coin studies), Lynx payment system architecture, and active BIS engagement.
• Monetary Authority of Singapore: MAS is a peer central bank operating in a small, open, trade-dependent economy with sophisticated reserve management and an active wholesale CBDC program (Project Orchid, Ubin). Direct regional peer via the SNB's Singapore branch and cross-border tokenization work.
• Norges Bank: Norges Bank manages one of the world's largest sovereign wealth-style reserve portfolios (the Government Pension Fund Global), paralleling the SNB's CHF 725B foreign currency book. Direct peer on long-horizon reserve management, transparency, and central bank profitability debates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/snb_bns
• YouTubeyoutube.com/@swissnationalbank
• LinkedInlinkedin.com/company/swiss-national-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Swiss National Bank