Forbes – Swiss National Bank (SNB) President Thomas Jordan must feel as though he can’t get a break these days. The SNB reported a record $39.3 billion profit in 2014, and the proceeds were distributed to the country’s various federal and regional governments as stipulated by law.
Most of these profits came from foreign currency gains as SNB officials defended the floor placed under EUR/CHF, which had been in effect since 2011. Jordan famously ditched the floor in January of this year, sending Swiss Francs to an all-time high against the Euro. Now, Swiss lawmakers are re-examining the SNB’s independence as policymakers start to worry about their payments for 2015.
