Does SNB still hold stocks?
SNB data portal (Iâd guess that securities is mostly stock).
Iâd guess thereâs a lot of bonds under the Securities position.
Judging by this page, Iâd say around 25% of Securities were Equities at the end of Q4 2024:
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150bn if I read this webpage correctly:
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3/4 is in bonds according to an interview with the head of asset management from SNB.
I see it less of a risk because the CHF is strong historically, so foreign currency purchases will only increase even more in the future. If CHF weakens long term (foreign currencies appreciate), then the SNB would just exchange foreign currency for CHF and then there is less CHF supply which would lead to CHF appreciation. The foreign currency purchases are just an instrument to influence CHF.
If my interpretation doesnât make sense or is wrong, please feel free to correct 
.
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According to slightly current negative rate on 1 and 2 years Interest rate swap SNB is becoming more and more likely to come back in negative rates already in June.
Would be a big signal to avoid foreign CHF buying
I donât believe theyâll take such action in June, bringing rates down to zero is already a strong signal, and they had anticipated the EUR/CHF ratio to reach 0.92 at some point this year. That said, depending on how the situation develops, the possibility of negative rates emerging in September canât be ruled out for sure. Another influencing factor will come tomorrow with the decision from the BCE.
Just closed today with global bank for 0.89 % all-in SARON mortgage (including margin) - indefinite term - 1 tranche.
Thanks everyone for your feedback and advice. Appreciated!
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thatâs a great rate! could you tell us how much was your initial payment % ? more than the standard 20%?
You mean to say 0,89 fix margin + Saron?
Standard 20%. We shopped around for mortgage rates and global bank was the most competitive.
No, 0.89 all-in, including margin.
Meaning margin 0.68 + Saron?
Correct.
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Now Iâm jealous, we got 0,8% margin + Saron, undetermined period, a few weeks ago.
Which bank is that? I was getting around 0.8%-0.9% when asking some months ago
That is a really good deal. Iâm also getting 0.8-0.9% from everywhere I am asking including the global bank.
Though Iâm wondering whether to take SARON at the moment as the 5-year fixed looks very good at the moment. As and when SNB increases the rate, the SARON+margin will be equal to todayâs 5-year.
Though the possibility of SARON rate going up is less in the next few quarters, I wonder what the calculation is to arrive at a decision for SARON, 5-year or 10-year.
which rates are you getting for 5-years fixed?
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Bank 1 - 1.13% and Bank 2 - 1.2%
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When in doubt - 50/50?
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