'We were advised that the 104 million Swiss francs
actually represent the total amount in fines or penalties imposed by FINMA on various private banks for violations of the Swiss finance and banking laws.
The Polish parliament is considering a bill to help Swiss franc
borrowers, Reuters has said.
The loan was issued in Swiss francs
, but the plaintiffs claim that the conversion to another currency was made unbeknownst to them, based on a power of attorney they had concluded with a Cypriot lawyer.
In contrast, the money held in Swiss banks by their foreign clients from across the world surprisingly rose during 2014 to 1.5 trillion Swiss franc
(USD 1.6 trillion or Rs 103 lakh crore), from about Rs 90 lakh crore at the end of 2013 - the record low level so far.
Around 150,000 families still owe around e1/429 billion of Swiss franc
debt, with four per cent of loans due within a year.
Without the hedging strategy, investors wouldn't have been protected when the rand value of the Swiss franc
The National Bank of Macedonia, on the other hand, says only 0.66 percent of all credits in the country are tied to the Swiss franc
"The recent move on the Swiss franc
caused by the Swiss National Bank's unexpected policy reversal of capping the Swiss franc
against the euro has resulted in exceptional volatility and extreme lack of liquidity," said Alpari UK in a statement online.
At the time, the Swiss National Bank viewed monetary conditions as inappropriately restrictive, despite strong money growth and recent declines in short-term interest rates, because the Swiss franc
had been appreciating sharply against the euro since the fall of 2007 (AR 2009, p.
| KUWAIT, May 1 (KUNA) -- Swiss exports to GCC states topped 6.6 billion swiss francs
in 2012, a growth rate of 19 percent from the year 2011, said here today director of the Swiss business center Ramyond Four, who is visiting Kuwait at the head of a trade delegation.
As part of the issuance, African Bank has executed a cross currency hedge, swapping all Swiss Franc
coupon and principal flows into South African rand.
The additional 4 percent was probably acquired over the preceding eight-month period at a cost of 2.1 billion Swiss francs
, or $2.4 billion, based on the average price during that period.