Own-Transaction Rules To Be Revised By SNB Bank Council

January 9th, 2012 by James

Own Transaction Rules to Be revised BY SNB Bank CouncilOn Saturday, the Swiss National Bank (SNB) said it will be reviewing its internal rules governing own-transactions made by board members in attempts to clean up its image following a trading scandal centered on its chief.

“It became evident that, given the events of the past few days and developments in financial markets, as well as with a view to improving transparency, taking measures is in order,” the SNB said in a statement.

Credibility of the central bank is important to its ability to defend the cap of 1.20 francs per euro at a time when eurozone‘s heightened uncertainty may encourage investors to stash their funds in relatively safe Switzerland and again boost the value of the franc.

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