SNB Shifts Currency Market Risks to Taxpayers, Economists Say

A group of economists critical of the Swiss National Bank said the central bank is shifting financial risks onto taxpayers by retaining too much of its profits rather than distributing them to the national government and the cantons.

The group — known as the SNB Observatory — argues that this policy effectively exposes public finances to volatility stemming from currency market swings, while insulating the central bank’s own balance sheet.